LNSR vs SPY: Correlation
LENSAR, Inc. (LNSR) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LNSR and SPY?
Across a 3-year window, the weekly returns of LNSR and SPY correlate at 0.22, weak. Recent behaviour matches the longer record: 0.29 over 1 year against 0.22 over 3. Stretching to 5 years gives 0.14, with an annualized covariance of 227.9 %².
Among the 12 assets we track against LNSR, SPY sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with SPY ahead by 51.2 points (-30.6% versus +20.6%). Note the risk asymmetry: LNSR runs 4.9 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.
LNSR vs SPY: side by side
| LNSR (LENSAR, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -30.6% | +20.6% |
| 5-year return | +5.0% | +82.4% |
| Volatility (ann.) | 70.5% | 14.5% |
| Beta vs S&P 500 | 1.09 | 1.00 |
| Max drawdown (3Y) | -70.3% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 42.3 | – |
| 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 | LNSR | SPY |
|---|---|---|
| 2022 | -50.6% | -18.2% |
| 2023 | +18.6% | +26.2% |
| 2024 | +154.7% | +24.9% |
| 2025 | +30.1% | +17.7% |
| 2026 | -27.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LNSR and SPY good diversifiers for each other?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LNSR and SPY?
As of 2026-08-27, the correlation of weekly returns between LNSR and SPY is 0.22 over 3 years, 0.29 over 1 year and 0.14 over 5 years.
Is SPY a good diversifier for LNSR?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.22 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: LNSR correlations · SPY correlations
