GLUE vs SPY: Correlation
Monte Rosa Therapeutics, Inc. (GLUE) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLUE and SPY?
Across a 3-year window, the weekly returns of GLUE and SPY correlate at 0.26, weak. Little has changed lately, as the 1-year reading of 0.22 lands near the 3-year figure. Stretching to 5 years gives 0.32, with an annualized covariance of 398.5 %².
Among the 16 assets we track against GLUE, SPY sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months GLUE outperformed by 186.0 percentage points (+206.6% for GLUE against +20.6% for SPY). Risk is not evenly split, since GLUE carries 7.2 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.
GLUE vs SPY: side by side
| GLUE (Monte Rosa Therapeutics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +206.6% | +20.6% |
| 5-year return | -61.7% | +82.4% |
| Volatility (ann.) | 104.5% | 14.5% |
| Beta vs S&P 500 | 1.91 | 1.00 |
| Max drawdown (3Y) | -64.3% | -18.8% |
| Market cap | $1.2B | – |
| 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 | GLUE | SPY |
|---|---|---|
| 2022 | -62.7% | -18.2% |
| 2023 | -25.8% | +26.2% |
| 2024 | +22.8% | +24.9% |
| 2025 | +125.9% | +17.7% |
| 2026 | -8.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLUE and SPY good diversifiers for each other?
Reasonably. At 0.26, GLUE and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GLUE and SPY?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with 0.22 over the last year and 0.32 over 5 years.
Is SPY a good diversifier for GLUE?
Reasonably. At 0.26, GLUE and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 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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Related comparisons
Hubs: GLUE correlations · SPY correlations
