JSPR vs SPY: Correlation
How closely do Jasper Therapeutics, Inc. (JSPR) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JSPR and SPY?
On 3 years of weekly data the JSPR/SPY correlation comes out at 0.35, moderate. Recent behaviour matches the longer record: 0.30 over 1 year against 0.35 over 3. The 5-year figure is 0.28, and annualized covariance runs at 580.0 %².
Among the 11 assets we track against JSPR, SPY ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 96.5 percentage points (-75.9% for JSPR against +20.6% for SPY). One caveat on sizing: JSPR is 7.9 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.
JSPR vs SPY: side by side
| JSPR (Jasper Therapeutics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -75.9% | +20.6% |
| 5-year return | -99.3% | +82.4% |
| Volatility (ann.) | 114.2% | 14.5% |
| Beta vs S&P 500 | 2.78 | 1.00 |
| Max drawdown (3Y) | -98.9% | -18.8% |
| Market cap | – | – |
| 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 | JSPR | SPY |
|---|---|---|
| 2022 | -93.8% | -18.2% |
| 2023 | +63.4% | +26.2% |
| 2024 | +171.0% | +24.9% |
| 2025 | -91.4% | +17.7% |
| 2026 | -61.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JSPR and SPY good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between JSPR and SPY?
The JSPR/SPY correlation stands at 0.35 on a 3-year window (1 year: 0.30, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for JSPR?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
A reading of 0.35 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: JSPR correlations · SPY correlations
