CLYM vs SPY: Correlation
Measured on weekly returns over the past three years, Climb Bio, Inc. (CLYM) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.12, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLYM and SPY?
Across a 3-year window, the weekly returns of CLYM and SPY correlate at 0.12, weak. The relationship has been stable: the 1-year correlation (0.18) sits close to the 3-year figure. Stretching to 5 years gives 0.06, with an annualized covariance of 231.4 %².
SPY is close to the least connected end of CLYM's tracked universe, ranking #8 of 12. The last year tells two different stories: CLYM led by 538.5 percentage points, +559.1% for CLYM against +20.6% for SPY. Risk is not evenly split, since CLYM carries 9.1 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.
CLYM vs SPY: side by side
| CLYM (Climb Bio, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +559.1% | +20.6% |
| 5-year return | -46.2% | +82.4% |
| Volatility (ann.) | 132.2% | 14.5% |
| Beta vs S&P 500 | 1.11 | 1.00 |
| Max drawdown (3Y) | -88.9% | -18.8% |
| Market cap | $0.9B | – |
| 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 | CLYM | SPY |
|---|---|---|
| 2022 | -64.9% | -18.2% |
| 2023 | -26.4% | +26.2% |
| 2024 | -33.3% | +24.9% |
| 2025 | +122.2% | +17.7% |
| 2026 | +276.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLYM and SPY good diversifiers for each other?
Yes: at 0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CLYM and SPY?
The CLYM/SPY correlation stands at 0.12 on a 3-year window (1 year: 0.18, 5 years: 0.06), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for CLYM?
Yes: at 0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.12 mean?
On the −1 to +1 scale, 0.12 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.
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Related comparisons
Hubs: CLYM correlations · SPY correlations
