IDYA vs SPY: Correlation
How closely do IDEAYA Biosciences, Inc. (IDYA) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDYA and SPY?
Across a 3-year window, the weekly returns of IDYA and SPY correlate at 0.44, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.22 versus 0.44 over 3 years. Stretching to 5 years gives 0.24, with an annualized covariance of 287.2 %².
By 3-year correlation, SPY places #16 of the 23 assets tracked against IDYA. Their recent paths diverged sharply: over the last 12 months IDYA outperformed by 46.5 percentage points (+67.1% for IDYA against +20.6% for SPY). Risk is not evenly split, since IDYA carries 3.1 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.
IDYA vs SPY: side by side
| IDYA (IDEAYA Biosciences, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +67.1% | +20.6% |
| 5-year return | +82.5% | +82.4% |
| Volatility (ann.) | 45.3% | 14.5% |
| Beta vs S&P 500 | 1.37 | 1.00 |
| Max drawdown (3Y) | -69.2% | -18.8% |
| Market cap | $4.0B | – |
| 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 | IDYA | SPY |
|---|---|---|
| 2022 | -23.1% | -18.2% |
| 2023 | +95.8% | +26.2% |
| 2024 | -27.8% | +24.9% |
| 2025 | +34.5% | +17.7% |
| 2026 | +20.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDYA and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IDYA and SPY?
As of 2026-08-27, the correlation of weekly returns between IDYA and SPY is 0.44 over 3 years, 0.22 over 1 year and 0.24 over 5 years.
Is SPY a good diversifier for IDYA?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: IDYA correlations · SPY correlations
