FURY vs SPY: Correlation
Fury Gold Mines Limited (FURY) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FURY and SPY?
Across a 3-year window, the weekly returns of FURY and SPY correlate at 0.19, weak. The relationship has been stable: the 1-year correlation (0.13) sits close to the 3-year figure. Stretching to 5 years gives 0.19, with an annualized covariance of 170.3 %².
SPY is close to the least connected end of FURY's tracked universe, ranking #6 of 10. Their 12-month results are close: +22.0% for FURY against +20.6% for SPY. Risk is not evenly split, since FURY carries 4.3 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.
FURY vs SPY: side by side
| FURY (Fury Gold Mines Limited) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +22.0% | +20.6% |
| 5-year return | -17.1% | +82.4% |
| Volatility (ann.) | 62.8% | 14.5% |
| Beta vs S&P 500 | 0.82 | 1.00 |
| Max drawdown (3Y) | -46.9% | -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 | FURY | SPY |
|---|---|---|
| 2022 | -33.3% | -18.2% |
| 2023 | +18.5% | +26.2% |
| 2024 | -26.9% | +24.9% |
| 2025 | +59.5% | +17.7% |
| 2026 | +5.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FURY and SPY good diversifiers for each other?
Yes. With a correlation of 0.19, FURY and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FURY and SPY?
As of 2026-08-27, the correlation of weekly returns between FURY and SPY is 0.19 over 3 years, 0.13 over 1 year and 0.19 over 5 years.
Is SPY a good diversifier for FURY?
Yes. With a correlation of 0.19, FURY and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.19 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: FURY correlations · SPY correlations
