GOSS vs SPY: Correlation
Measured on weekly returns over the past three years, Gossamer Bio, Inc. (GOSS) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.26, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GOSS and SPY?
On 3 years of weekly data the GOSS/SPY correlation comes out at 0.26, weak. Little has changed lately, as the 1-year reading of 0.25 lands near the 3-year figure. The 5-year figure is 0.24, and annualized covariance runs at 394.1 %².
Among the 11 assets we track against GOSS, SPY sits near the bottom by co-movement, at rank #7. Correlation aside, the last 12 months split them widely, with SPY ahead by 113.7 points (-93.1% versus +20.6%). Note the risk asymmetry: GOSS runs 7.4 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.
GOSS vs SPY: side by side
| GOSS (Gossamer Bio, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -93.1% | +20.6% |
| 5-year return | -98.3% | +82.4% |
| Volatility (ann.) | 106.7% | 14.5% |
| Beta vs S&P 500 | 1.89 | 1.00 |
| Max drawdown (3Y) | -96.4% | -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 | GOSS | SPY |
|---|---|---|
| 2022 | -80.8% | -18.2% |
| 2023 | -57.9% | +26.2% |
| 2024 | -0.9% | +24.9% |
| 2025 | +242.5% | +17.7% |
| 2026 | -94.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GOSS and SPY good diversifiers for each other?
Reasonably. At 0.26, GOSS and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GOSS and SPY?
The GOSS/SPY correlation stands at 0.26 on a 3-year window (1 year: 0.25, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for GOSS?
Reasonably. At 0.26, GOSS 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: GOSS correlations · SPY correlations
