IPSC vs SPY: Correlation
Century Therapeutics, Inc. (IPSC) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPSC and SPY?
Across a 3-year window, the weekly returns of IPSC and SPY correlate at 0.26, weak. Little has changed lately, as the 1-year reading of 0.18 lands near the 3-year figure. Stretching to 5 years gives 0.25, with an annualized covariance of 420.8 %².
SPY is close to the least connected end of IPSC's tracked universe, ranking #11 of 15. Their recent paths diverged sharply: over the last 12 months IPSC outperformed by 312.4 percentage points (+333.0% for IPSC against +20.6% for SPY). Note the risk asymmetry: IPSC runs 7.7 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.
IPSC vs SPY: side by side
| IPSC (Century Therapeutics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +333.0% | +20.6% |
| 5-year return | -90.7% | +82.4% |
| Volatility (ann.) | 111.4% | 14.5% |
| Beta vs S&P 500 | 2.01 | 1.00 |
| Max drawdown (3Y) | -92.7% | -18.8% |
| Market cap | $0.4B | – |
| 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 | IPSC | SPY |
|---|---|---|
| 2022 | -67.7% | -18.2% |
| 2023 | -35.3% | +26.2% |
| 2024 | -69.6% | +24.9% |
| 2025 | -1.5% | +17.7% |
| 2026 | +124.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPSC and SPY good diversifiers for each other?
Reasonably. At 0.26, IPSC and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IPSC and SPY?
The IPSC/SPY correlation stands at 0.26 on a 3-year window (1 year: 0.18, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for IPSC?
Reasonably. At 0.26, IPSC and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.26 mean?
A reading of 0.26 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: IPSC correlations · SPY correlations
