CRNX vs SPY: Correlation
Crinetics Pharmaceuticals, Inc. (CRNX) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRNX and SPY?
Over the past 3 years, CRNX and SPY moved with a correlation of 0.25, which is weak. Little has changed lately, as the 1-year reading of 0.18 lands near the 3-year figure. Over 5 years the correlation is 0.22, and the annualized covariance of weekly returns is 331.0 %².
Out of 12 assets tracked against CRNX, SPY lands near the bottom at #8. Their recent paths diverged sharply: over the last 12 months CRNX outperformed by 158.5 percentage points (+179.1% for CRNX against +20.6% for SPY). Risk is not evenly split, since CRNX carries 6.3 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.
CRNX vs SPY: side by side
| CRNX (Crinetics Pharmaceuticals, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +179.1% | +20.6% |
| 5-year return | +269.7% | +82.4% |
| Volatility (ann.) | 91.7% | 14.5% |
| Beta vs S&P 500 | 1.58 | 1.00 |
| Max drawdown (3Y) | -57.9% | -18.8% |
| Market cap | $9.0B | – |
| 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 | CRNX | SPY |
|---|---|---|
| 2022 | -35.6% | -18.2% |
| 2023 | +94.4% | +26.2% |
| 2024 | +43.7% | +24.9% |
| 2025 | -9.0% | +17.7% |
| 2026 | +82.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRNX and SPY good diversifiers for each other?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CRNX and SPY?
The CRNX/SPY correlation stands at 0.25 on a 3-year window (1 year: 0.18, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for CRNX?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.25 mean?
A reading of 0.25 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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Related comparisons
Hubs: CRNX correlations · SPY correlations
