BCTX vs SPY: Correlation
How closely do BriaCell Therapeutics Corp. (BCTX) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of -0.02, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCTX and SPY?
Across a 3-year window, the weekly returns of BCTX and SPY correlate at -0.02, near zero, meaning they move largely independently. The link has tightened recently: the 1-year correlation (0.30) runs above the 3-year figure (-0.02). Stretching to 5 years gives -0.00, with an annualized covariance of -244.3 %².
Within BCTX's tracked universe of 31 assets, SPY comes in at #10 by 3-year correlation. The last year tells two different stories: SPY led by 71.8 percentage points, -51.2% for BCTX against +20.6% for SPY. Note the risk asymmetry: BCTX runs 46.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BCTX vs SPY: side by side
| BCTX (BriaCell Therapeutics Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -51.2% | +20.6% |
| 5-year return | -94.5% | +82.4% |
| Volatility (ann.) | 676.8% | 14.5% |
| Beta vs S&P 500 | -1.17 | 1.00 |
| Max drawdown (3Y) | -96.3% | -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 | BCTX | SPY |
|---|---|---|
| 2022 | -47.2% | -18.2% |
| 2023 | +33.9% | +26.2% |
| 2024 | -90.4% | +24.9% |
| 2025 | +27.0% | +17.7% |
| 2026 | -47.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCTX and SPY good diversifiers for each other?
By historical standards, yes. A correlation of -0.02 means the two rarely move for the same reasons.
FAQ
What is the correlation between BCTX and SPY?
As of 2026-08-27, the correlation of weekly returns between BCTX and SPY is -0.02 over 3 years, 0.30 over 1 year and -0.00 over 5 years.
Is SPY a good diversifier for BCTX?
By historical standards, yes. A correlation of -0.02 means the two rarely move for the same reasons.
What does a correlation of -0.02 mean?
A reading of -0.02 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Hubs: BCTX correlations · SPY correlations
