ENTX vs SPY: Correlation
Entera Bio Ltd. (ENTX) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.05.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENTX and SPY?
Over the past 3 years, ENTX and SPY moved with a correlation of 0.05, which is near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.14) than the 3-year average (0.05). Over 5 years the correlation is 0.11, and the annualized covariance of weekly returns is 69.4 %².
Among the 24 assets we track against ENTX, SPY ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ENTX outperformed by 36.5 percentage points (+57.1% for ENTX against +20.6% for SPY). Risk is not evenly split, since ENTX carries 6.7 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.
ENTX vs SPY: side by side
| ENTX (Entera Bio Ltd.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +57.1% | +20.6% |
| 5-year return | -36.1% | +82.4% |
| Volatility (ann.) | 96.7% | 14.5% |
| Beta vs S&P 500 | 0.33 | 1.00 |
| Max drawdown (3Y) | -68.2% | -18.8% |
| Market cap | $0.5B | – |
| 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 | ENTX | SPY |
|---|---|---|
| 2022 | -74.1% | -18.2% |
| 2023 | -17.8% | +26.2% |
| 2024 | +253.3% | +24.9% |
| 2025 | -8.5% | +17.7% |
| 2026 | +58.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENTX and SPY good diversifiers for each other?
Yes: at 0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ENTX and SPY?
As of 2026-08-27, the correlation of weekly returns between ENTX and SPY is 0.05 over 3 years, -0.14 over 1 year and 0.11 over 5 years.
Is SPY a good diversifier for ENTX?
Yes: at 0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.05 mean?
A reading of 0.05 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: ENTX correlations · SPY correlations
