DNTH vs SPY: Correlation
How closely do Dianthus Therapeutics, Inc. (DNTH) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.16, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNTH and SPY?
Across a 3-year window, the weekly returns of DNTH and SPY correlate at 0.16, weak. The link has loosened recently: the 1-year correlation (-0.00) runs below the 3-year figure (0.16). Stretching to 5 years gives 0.25, with an annualized covariance of 182.8 %².
Out of 10 assets tracked against DNTH, SPY lands near the bottom at #6. Their recent paths diverged sharply: over the last 12 months DNTH outperformed by 339.5 percentage points (+360.1% for DNTH against +20.6% for SPY). Risk is not evenly split, since DNTH carries 5.4 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.
DNTH vs SPY: side by side
| DNTH (Dianthus Therapeutics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +360.1% | +20.6% |
| 5-year return | +9.4% | +82.4% |
| Volatility (ann.) | 78.1% | 14.5% |
| Beta vs S&P 500 | 0.88 | 1.00 |
| Max drawdown (3Y) | -53.5% | -18.8% |
| Market cap | $6.2B | – |
| 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 | DNTH | SPY |
|---|---|---|
| 2022 | -91.0% | -18.2% |
| 2023 | +62.5% | +26.2% |
| 2024 | +109.6% | +24.9% |
| 2025 | +89.0% | +17.7% |
| 2026 | +170.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNTH and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between DNTH and SPY?
As of 2026-08-27, the correlation of weekly returns between DNTH and SPY is 0.16 over 3 years, -0.00 over 1 year and 0.25 over 5 years.
Is SPY a good diversifier for DNTH?
By historical standards, yes. A correlation of 0.16 means the two rarely move for the same reasons.
What does a correlation of 0.16 mean?
A reading of 0.16 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: DNTH correlations · SPY correlations
