FNUC vs SPY: Correlation
How closely do Frontier Nuclear and Minerals Inc. (FNUC) 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 FNUC and SPY?
Over the past 3 years, FNUC and SPY moved with a correlation of 0.09, which is near zero, meaning they move largely independently. Lately the two have moved closer together, with the 1-year correlation at 0.55 versus 0.09 over 3 years. Over 5 years the correlation is 0.14, and the annualized covariance of weekly returns is 323.5 %².
Among the 26 assets we track against FNUC, SPY sits near the bottom by co-movement, at rank #23. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 79.7 percentage points (-59.1% for FNUC against +20.6% for SPY). One caveat on sizing: FNUC is 16.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FNUC vs SPY: side by side
| FNUC (Frontier Nuclear and Minerals Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -59.1% | +20.6% |
| 5-year return | -99.0% | +82.4% |
| Volatility (ann.) | 237.4% | 14.5% |
| Beta vs S&P 500 | 1.55 | 1.00 |
| Max drawdown (3Y) | -94.2% | -18.8% |
| Market cap | $0.1B | – |
| 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 | FNUC | SPY |
|---|---|---|
| 2022 | -60.4% | -18.2% |
| 2023 | -48.7% | +26.2% |
| 2024 | -17.9% | +24.9% |
| 2025 | -76.0% | +17.7% |
| 2026 | -43.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNUC 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 FNUC and SPY?
Using weekly returns as of 2026-08-27: 0.09 over 3 years, with 0.55 over the last year and 0.14 over 5 years.
Is SPY a good diversifier for FNUC?
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.
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Hubs: FNUC correlations · SPY correlations
