LYEL vs SPY: Correlation
How closely do Lyell Immunopharma, Inc. (LYEL) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LYEL and SPY?
Across a 3-year window, the weekly returns of LYEL and SPY correlate at 0.30, moderate. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. Stretching to 5 years gives 0.27, with an annualized covariance of 436.3 %².
SPY is close to the least connected end of LYEL's tracked universe, ranking #9 of 13. The trailing year gives LYEL the advantage: +29.5% versus +20.6%, a 8.9-point spread. Risk is not evenly split, since LYEL carries 6.9 times the volatility of the other side.
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.
LYEL vs SPY: side by side
| LYEL (Lyell Immunopharma, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +29.5% | +20.6% |
| 5-year return | -95.4% | +82.4% |
| Volatility (ann.) | 99.9% | 14.5% |
| Beta vs S&P 500 | 2.09 | 1.00 |
| Max drawdown (3Y) | -87.3% | -18.8% |
| Market cap | $0.4B | – |
| 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 | LYEL | SPY |
|---|---|---|
| 2022 | -55.2% | -18.2% |
| 2023 | -44.1% | +26.2% |
| 2024 | -67.0% | +24.9% |
| 2025 | +140.5% | +17.7% |
| 2026 | -52.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LYEL and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LYEL and SPY?
As of 2026-08-27, the correlation of weekly returns between LYEL and SPY is 0.30 over 3 years, 0.31 over 1 year and 0.27 over 5 years.
Is SPY a good diversifier for LYEL?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 mean?
On the −1 to +1 scale, 0.30 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: LYEL correlations · SPY correlations
