BEAM vs SPY: Correlation
How closely do Beam Therapeutics Inc. (BEAM) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BEAM and SPY?
Over the past 3 years, BEAM and SPY moved with a correlation of 0.48, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.48 over 3. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 500.1 %².
Among the 20 assets we track against BEAM, SPY ranks #11 by 3-year correlation. The last year tells two different stories: BEAM led by 60.2 percentage points, +80.8% for BEAM against +20.6% for SPY. Note the risk asymmetry: BEAM runs 5.0 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.
BEAM vs SPY: side by side
| BEAM (Beam Therapeutics Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +80.8% | +20.6% |
| 5-year return | -71.5% | +82.4% |
| Volatility (ann.) | 72.6% | 14.5% |
| Beta vs S&P 500 | 2.39 | 1.00 |
| Max drawdown (3Y) | -67.7% | -18.8% |
| Market cap | $3.1B | – |
| 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 | BEAM | SPY |
|---|---|---|
| 2022 | -50.9% | -18.2% |
| 2023 | -30.4% | +26.2% |
| 2024 | -8.9% | +24.9% |
| 2025 | +11.8% | +17.7% |
| 2026 | +10.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BEAM and SPY good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BEAM and SPY?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.46 over the last year and 0.48 over 5 years.
Is SPY a good diversifier for BEAM?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: BEAM correlations · SPY correlations
