BBLG vs SPY: Correlation
Bone Biologics Corp (BBLG) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.07.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBLG and SPY?
Across a 3-year window, the weekly returns of BBLG and SPY correlate at 0.07, near zero, meaning they move largely independently. Lately the two have moved closer together, with the 1-year correlation at 0.37 versus 0.07 over 3 years. Stretching to 5 years gives 0.15, with an annualized covariance of 143.7 %².
Among the 14 assets we track against BBLG, SPY ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 92.0 percentage points (-71.4% for BBLG against +20.6% for SPY). Risk is not evenly split, since BBLG carries 9.7 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BBLG vs SPY: side by side
| BBLG (Bone Biologics Corp) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -71.4% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 140.7% | 14.5% |
| Beta vs S&P 500 | 0.69 | 1.00 |
| Max drawdown (3Y) | -98.4% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | BBLG | SPY |
|---|---|---|
| 2022 | -94.0% | -18.2% |
| 2023 | -91.0% | +26.2% |
| 2024 | -79.2% | +24.9% |
| 2025 | -74.3% | +17.7% |
| 2026 | -57.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBLG and SPY good diversifiers for each other?
Yes: at 0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BBLG and SPY?
As of 2026-08-27, the correlation of weekly returns between BBLG and SPY is 0.07 over 3 years, 0.37 over 1 year and 0.15 over 5 years.
Is SPY a good diversifier for BBLG?
Yes: at 0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.07 mean?
On the −1 to +1 scale, 0.07 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bblg-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bblg-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BBLG correlations · SPY correlations
