INMB vs SPY: Correlation
How closely do INmune Bio Inc. (INMB) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.25, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INMB and SPY?
Over the past 3 years, INMB and SPY moved with a correlation of 0.25, which is weak. The past 12 months show a tighter link (0.48) than the 3-year average (0.25). Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 278.2 %².
Among the 11 assets we track against INMB, SPY sits near the bottom by co-movement, at rank #7. Their 12-month results are close: +17.4% for INMB against +20.6% for SPY. One caveat on sizing: INMB 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.
INMB vs SPY: side by side
| INMB (INmune Bio Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +17.4% | +20.6% |
| 5-year return | -89.4% | +82.4% |
| Volatility (ann.) | 76.1% | 14.5% |
| Beta vs S&P 500 | 1.33 | 1.00 |
| Max drawdown (3Y) | -92.0% | -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 | INMB | SPY |
|---|---|---|
| 2022 | -37.8% | -18.2% |
| 2023 | +77.6% | +26.2% |
| 2024 | -58.5% | +24.9% |
| 2025 | -66.6% | +17.7% |
| 2026 | +53.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INMB and SPY good diversifiers for each other?
Reasonably. At 0.25, INMB and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between INMB and SPY?
The INMB/SPY correlation stands at 0.25 on a 3-year window (1 year: 0.48, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for INMB?
Reasonably. At 0.25, INMB and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.25 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: INMB correlations · SPY correlations
