LCTX vs SPY: Correlation
Lineage Cell Therapeutics, Inc. (LCTX) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LCTX and SPY?
Over the past 3 years, LCTX and SPY moved with a correlation of 0.20, which is weak. The past 12 months show a tighter link (0.35) than the 3-year average (0.20). Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 208.8 %².
Among the 11 assets we track against LCTX, SPY sits near the bottom by co-movement, at rank #7. The last year tells two different stories: SPY led by 25.5 percentage points, -4.9% for LCTX against +20.6% for SPY. Note the risk asymmetry: LCTX runs 5.0 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.
LCTX vs SPY: side by side
| LCTX (Lineage Cell Therapeutics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -4.9% | +20.6% |
| 5-year return | -52.7% | +82.4% |
| Volatility (ann.) | 72.1% | 14.5% |
| Beta vs S&P 500 | 1.00 | 1.00 |
| Max drawdown (3Y) | -73.6% | -18.8% |
| Market cap | $0.3B | – |
| 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 | LCTX | SPY |
|---|---|---|
| 2022 | -52.2% | -18.2% |
| 2023 | -6.8% | +26.2% |
| 2024 | -54.1% | +24.9% |
| 2025 | +234.0% | +17.7% |
| 2026 | -30.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LCTX and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LCTX and SPY?
As of 2026-08-27, the correlation of weekly returns between LCTX and SPY is 0.20 over 3 years, 0.35 over 1 year and 0.24 over 5 years.
Is SPY a good diversifier for LCTX?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.20 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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Hubs: LCTX correlations · SPY correlations
