IMNM vs SPY: Correlation
Measured on weekly returns over the past three years, Immunome, Inc. (IMNM) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IMNM and SPY?
Across a 3-year window, the weekly returns of IMNM and SPY correlate at 0.30, moderate. The relationship has been stable: the 1-year correlation (0.23) sits close to the 3-year figure. Stretching to 5 years gives 0.27, with an annualized covariance of 323.1 %².
SPY is close to the least connected end of IMNM's tracked universe, ranking #12 of 16. Their recent paths diverged sharply: over the last 12 months IMNM outperformed by 169.6 percentage points (+190.2% for IMNM against +20.6% for SPY). One caveat on sizing: IMNM is 5.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
IMNM vs SPY: side by side
| IMNM (Immunome, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +190.2% | +20.6% |
| 5-year return | +102.5% | +82.4% |
| Volatility (ann.) | 75.1% | 14.5% |
| Beta vs S&P 500 | 1.55 | 1.00 |
| Max drawdown (3Y) | -79.7% | -18.8% |
| Market cap | $3.3B | – |
| 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 | IMNM | SPY |
|---|---|---|
| 2022 | -82.9% | -18.2% |
| 2023 | +384.2% | +26.2% |
| 2024 | -0.7% | +24.9% |
| 2025 | +102.3% | +17.7% |
| 2026 | +34.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IMNM and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IMNM and SPY?
As of 2026-08-27, the correlation of weekly returns between IMNM and SPY is 0.30 over 3 years, 0.23 over 1 year and 0.27 over 5 years.
Is SPY a good diversifier for IMNM?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 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: IMNM correlations · SPY correlations
