LXRX vs SPY: Correlation
Measured on weekly returns over the past three years, Lexicon Pharmaceuticals, Inc. (LXRX) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LXRX and SPY?
Across a 3-year window, the weekly returns of LXRX and SPY correlate at 0.27, weak. The link has loosened recently: the 1-year correlation (0.04) runs below the 3-year figure (0.27). Stretching to 5 years gives 0.30, with an annualized covariance of 413.4 %².
SPY is close to the least connected end of LXRX's tracked universe, ranking #7 of 11. The last year tells two different stories: LXRX led by 84.7 percentage points, +105.3% for LXRX against +20.6% for SPY. Note the risk asymmetry: LXRX runs 7.3 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.
LXRX vs SPY: side by side
| LXRX (Lexicon Pharmaceuticals, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +105.3% | +20.6% |
| 5-year return | -48.7% | +82.4% |
| Volatility (ann.) | 105.2% | 14.5% |
| Beta vs S&P 500 | 1.98 | 1.00 |
| Max drawdown (3Y) | -91.9% | -18.8% |
| Market cap | $1.0B | – |
| 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 | LXRX | SPY |
|---|---|---|
| 2022 | -51.5% | -18.2% |
| 2023 | -19.9% | +26.2% |
| 2024 | -51.6% | +24.9% |
| 2025 | +55.4% | +17.7% |
| 2026 | +101.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LXRX and SPY good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LXRX and SPY?
The LXRX/SPY correlation stands at 0.27 on a 3-year window (1 year: 0.04, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for LXRX?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 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: LXRX correlations · SPY correlations
