HURA vs SPY: Correlation
Measured on weekly returns over the past three years, TuHURA Biosciences, Inc. (HURA) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.03, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HURA and SPY?
Across a 3-year window, the weekly returns of HURA and SPY correlate at 0.03, near zero, meaning they move largely independently. The link has tightened recently: the 1-year correlation (0.16) runs above the 3-year figure (0.03). Stretching to 5 years gives 0.12, with an annualized covariance of 55.6 %².
Among the 29 assets we track against HURA, SPY ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 47.2 percentage points (-26.6% for HURA against +20.6% for SPY). Note the risk asymmetry: HURA runs 10.5 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.
HURA vs SPY: side by side
| HURA (TuHURA Biosciences, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -26.6% | +20.6% |
| 5-year return | -99.9% | +82.4% |
| Volatility (ann.) | 152.6% | 14.5% |
| Beta vs S&P 500 | 0.27 | 1.00 |
| Max drawdown (3Y) | -99.7% | -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 | HURA | SPY |
|---|---|---|
| 2022 | -73.0% | -18.2% |
| 2023 | -97.5% | +26.2% |
| 2024 | -31.3% | +24.9% |
| 2025 | -81.5% | +17.7% |
| 2026 | +181.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HURA and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.03 means the two rarely move for the same reasons.
FAQ
What is the correlation between HURA and SPY?
The HURA/SPY correlation stands at 0.03 on a 3-year window (1 year: 0.16, 5 years: 0.12), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for HURA?
By historical standards, yes. A correlation of 0.03 means the two rarely move for the same reasons.
What does a correlation of 0.03 mean?
On the −1 to +1 scale, 0.03 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: HURA correlations · SPY correlations
