DERM vs SPY: Correlation
How closely do Journey Medical Corporation (DERM) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.09, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DERM and SPY?
Across a 3-year window, the weekly returns of DERM and SPY correlate at 0.09, near zero, meaning they move largely independently. Lately the two have moved closer together, with the 1-year correlation at 0.31 versus 0.09 over 3 years. Stretching to 5 years gives 0.12, with an annualized covariance of 95.3 %².
By 3-year correlation, SPY places #7 of the 15 assets tracked against DERM. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 19.9 percentage points (+0.7% for DERM against +20.6% for SPY). Risk is not evenly split, since DERM carries 4.9 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.
DERM vs SPY: side by side
| DERM (Journey Medical Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +0.7% | +20.6% |
| 5-year return | -23.9% | +82.4% |
| Volatility (ann.) | 71.7% | 14.5% |
| Beta vs S&P 500 | 0.46 | 1.00 |
| Max drawdown (3Y) | -63.3% | -18.8% |
| Market cap | $0.2B | – |
| 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 | DERM | SPY |
|---|---|---|
| 2022 | -64.3% | -18.2% |
| 2023 | +200.0% | +26.2% |
| 2024 | -32.1% | +24.9% |
| 2025 | +97.2% | +17.7% |
| 2026 | -2.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DERM and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
FAQ
What is the correlation between DERM and SPY?
The DERM/SPY correlation stands at 0.09 on a 3-year window (1 year: 0.31, 5 years: 0.12), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for DERM?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
What does a correlation of 0.09 mean?
On the −1 to +1 scale, 0.09 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/derm-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/derm-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DERM correlations · SPY correlations
