LCID vs SPY: Correlation
Measured on weekly returns over the past three years, Lucid Group, Inc. (LCID) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.23, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LCID and SPY?
Across a 3-year window, the weekly returns of LCID and SPY correlate at 0.23, weak. The link has loosened recently: the 1-year correlation (0.06) runs below the 3-year figure (0.23). Stretching to 5 years gives 0.28, with an annualized covariance of 262.1 %².
Out of 10 assets tracked against LCID, SPY lands near the bottom at #6. The last year tells two different stories: SPY led by 96.1 percentage points, -75.5% for LCID against +20.6% for SPY. Note the risk asymmetry: LCID runs 5.4 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.
LCID vs SPY: side by side
| LCID (Lucid Group, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -75.5% | +20.6% |
| 5-year return | -97.5% | +82.4% |
| Volatility (ann.) | 78.4% | 14.5% |
| Beta vs S&P 500 | 1.25 | 1.00 |
| Max drawdown (3Y) | -92.7% | -18.8% |
| Market cap | $2.0B | – |
| 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 | LCID | SPY |
|---|---|---|
| 2022 | -82.0% | -18.2% |
| 2023 | -38.4% | +26.2% |
| 2024 | -28.3% | +24.9% |
| 2025 | -65.0% | +17.7% |
| 2026 | -51.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LCID and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LCID and SPY?
The LCID/SPY correlation stands at 0.23 on a 3-year window (1 year: 0.06, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for LCID?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.23 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lcid-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lcid-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LCID correlations · SPY correlations
