NAUT vs SPY: Correlation
Nautilus Biotechnology, Inc. (NAUT) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NAUT and SPY?
On 3 years of weekly data the NAUT/SPY correlation comes out at 0.27, weak. Lately the two have drifted apart, with the 1-year correlation at -0.09 versus 0.27 over 3 years. The 5-year figure is 0.31, and annualized covariance runs at 284.0 %².
Out of 10 assets tracked against NAUT, SPY lands near the bottom at #6. The trailing year gives NAUT the advantage: +28.6% versus +20.6%, a 8.0-point spread. One caveat on sizing: NAUT is 5.0 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.
NAUT vs SPY: side by side
| NAUT (Nautilus Biotechnology, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +28.6% | +20.6% |
| 5-year return | -88.5% | +82.4% |
| Volatility (ann.) | 72.5% | 14.5% |
| Beta vs S&P 500 | 1.36 | 1.00 |
| Max drawdown (3Y) | -83.8% | -18.8% |
| Market cap | $0.1B | – |
| 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 | NAUT | SPY |
|---|---|---|
| 2022 | -65.3% | -18.2% |
| 2023 | +66.1% | +26.2% |
| 2024 | -43.8% | +24.9% |
| 2025 | +16.1% | +17.7% |
| 2026 | -53.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NAUT 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 NAUT and SPY?
The NAUT/SPY correlation stands at 0.27 on a 3-year window (1 year: -0.09, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for NAUT?
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/naut-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/naut-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NAUT correlations · SPY correlations
