LNAI vs SPY: Correlation
How closely do Lunai Bioworks Inc. (LNAI) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.12, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LNAI and SPY?
Across a 3-year window, the weekly returns of LNAI and SPY correlate at 0.12, weak. The link has loosened recently: the 1-year correlation (-0.00) runs below the 3-year figure (0.12). Stretching to 5 years gives 0.10, with an annualized covariance of 298.5 %².
By 3-year correlation, SPY places #9 of the 26 assets tracked against LNAI. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 109.2 percentage points (-88.6% for LNAI against +20.6% for SPY). One caveat on sizing: LNAI is 11.7 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.
LNAI vs SPY: side by side
| LNAI (Lunai Bioworks Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -88.6% | +20.6% |
| 5-year return | -99.6% | +82.4% |
| Volatility (ann.) | 169.5% | 14.5% |
| Beta vs S&P 500 | 1.43 | 1.00 |
| Max drawdown (3Y) | -99.6% | -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 | LNAI | SPY |
|---|---|---|
| 2022 | -85.9% | -18.2% |
| 2023 | +207.8% | +26.2% |
| 2024 | -73.6% | +24.9% |
| 2025 | -89.4% | +17.7% |
| 2026 | -66.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LNAI and SPY good diversifiers for each other?
Yes: at 0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LNAI and SPY?
The LNAI/SPY correlation stands at 0.12 on a 3-year window (1 year: -0.00, 5 years: 0.10), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for LNAI?
Yes: at 0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.12 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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Related comparisons
Hubs: LNAI correlations · SPY correlations
