FATE vs SPY: Correlation
Fate Therapeutics, Inc. (FATE) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FATE and SPY?
Across a 3-year window, the weekly returns of FATE and SPY correlate at 0.38, moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.38 over 3. Stretching to 5 years gives 0.40, with an annualized covariance of 601.9 %².
By 3-year correlation, SPY places #14 of the 21 assets tracked against FATE. The last year tells two different stories: FATE led by 106.2 percentage points, +126.8% for FATE against +20.6% for SPY. Risk is not evenly split, since FATE carries 7.6 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.
FATE vs SPY: side by side
| FATE (Fate Therapeutics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +126.8% | +20.6% |
| 5-year return | -96.5% | +82.4% |
| Volatility (ann.) | 110.8% | 14.5% |
| Beta vs S&P 500 | 2.88 | 1.00 |
| Max drawdown (3Y) | -91.9% | -18.8% |
| Market cap | $0.3B | – |
| 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 | FATE | SPY |
|---|---|---|
| 2022 | -82.8% | -18.2% |
| 2023 | -62.9% | +26.2% |
| 2024 | -55.9% | +24.9% |
| 2025 | -40.6% | +17.7% |
| 2026 | +159.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FATE and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FATE and SPY?
The FATE/SPY correlation stands at 0.38 on a 3-year window (1 year: 0.36, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for FATE?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
A reading of 0.38 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: FATE correlations · SPY correlations
