KLRS vs SPY: Correlation
Measured on weekly returns over the past three years, Kalaris Therapeutics, Inc. (KLRS) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.20, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KLRS and SPY?
Over the past 3 years, KLRS and SPY moved with a correlation of 0.20, which is weak. Recent behaviour matches the longer record: 0.26 over 1 year against 0.20 over 3. Over 5 years the correlation is 0.22, and the annualized covariance of weekly returns is 278.4 %².
Within KLRS's tracked universe of 15 assets, SPY comes in at #7 by 3-year correlation. On 12-month performance KLRS holds a 12.5-point edge, +33.1% against +20.6%. Note the risk asymmetry: KLRS runs 6.8 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.
KLRS vs SPY: side by side
| KLRS (Kalaris Therapeutics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +33.1% | +20.6% |
| 5-year return | -99.1% | +82.4% |
| Volatility (ann.) | 98.7% | 14.5% |
| Beta vs S&P 500 | 1.33 | 1.00 |
| Max drawdown (3Y) | -97.0% | -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 | KLRS | SPY |
|---|---|---|
| 2022 | -60.4% | -18.2% |
| 2023 | -86.7% | +26.2% |
| 2024 | -38.2% | +24.9% |
| 2025 | -12.6% | +17.7% |
| 2026 | -51.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KLRS and SPY good diversifiers for each other?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between KLRS and SPY?
The KLRS/SPY correlation stands at 0.20 on a 3-year window (1 year: 0.26, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for KLRS?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.20 mean?
A reading of 0.20 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: KLRS correlations · SPY correlations
