LEXX vs SPY: Correlation
Lexaria Bioscience Corp. (LEXX) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.04.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LEXX and SPY?
Across a 3-year window, the weekly returns of LEXX and SPY correlate at 0.04, near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.06 over 1 year against 0.04 over 3. Stretching to 5 years gives 0.05, with an annualized covariance of 347.3 %².
Out of 10 assets tracked against LEXX, SPY lands near the bottom at #6. The last year tells two different stories: LEXX led by 1197.7 percentage points, +1218.3% for LEXX against +20.6% for SPY. One caveat on sizing: LEXX is 38.6 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.
LEXX vs SPY: side by side
| LEXX (Lexaria Bioscience Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +1218.3% | +20.6% |
| 5-year return | +89.6% | +82.4% |
| Volatility (ann.) | 559.5% | 14.5% |
| Beta vs S&P 500 | 1.66 | 1.00 |
| Max drawdown (3Y) | -95.6% | -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 | LEXX | SPY |
|---|---|---|
| 2022 | -39.0% | -18.2% |
| 2023 | -49.2% | +26.2% |
| 2024 | +68.0% | +24.9% |
| 2025 | -70.6% | +17.7% |
| 2026 | +1793.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LEXX and SPY good diversifiers for each other?
Yes. With a correlation of 0.04, LEXX and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LEXX and SPY?
As of 2026-08-27, the correlation of weekly returns between LEXX and SPY is 0.04 over 3 years, 0.06 over 1 year and 0.05 over 5 years.
Is SPY a good diversifier for LEXX?
Yes. With a correlation of 0.04, LEXX and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.04 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: LEXX correlations · SPY correlations
