FEMY vs SPY: Correlation
Measured on weekly returns over the past three years, Femasys Inc. (FEMY) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of -0.01, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FEMY and SPY?
On 3 years of weekly data the FEMY/SPY correlation comes out at -0.01, near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.00 lands near the 3-year figure. The 5-year figure is 0.02, and annualized covariance runs at -101.7 %².
Within FEMY's tracked universe of 32 assets, SPY comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 81.8 points (-61.2% versus +20.6%). Note the risk asymmetry: FEMY runs 35.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FEMY vs SPY: side by side
| FEMY (Femasys Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -61.2% | +20.6% |
| 5-year return | -98.0% | +82.4% |
| Volatility (ann.) | 509.3% | 14.5% |
| Beta vs S&P 500 | -0.49 | 1.00 |
| Max drawdown (3Y) | -97.2% | -18.8% |
| Market cap | – | – |
| 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 | FEMY | SPY |
|---|---|---|
| 2022 | -76.9% | -18.2% |
| 2023 | +8.3% | +26.2% |
| 2024 | +12.8% | +24.9% |
| 2025 | -47.6% | +17.7% |
| 2026 | -75.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FEMY and SPY good diversifiers for each other?
Yes. With a correlation of -0.01, FEMY and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FEMY and SPY?
The FEMY/SPY correlation stands at -0.01 on a 3-year window (1 year: 0.00, 5 years: 0.02), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for FEMY?
Yes. With a correlation of -0.01, FEMY and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.01 mean?
A reading of -0.01 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: FEMY correlations · SPY correlations
