NDRA vs SPY: Correlation
How closely do ENDRA Life Sciences Inc. (NDRA) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.14, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NDRA and SPY?
Across a 3-year window, the weekly returns of NDRA and SPY correlate at 0.14, weak. Lately the two have moved closer together, with the 1-year correlation at 0.36 versus 0.14 over 3 years. Stretching to 5 years gives 0.13, with an annualized covariance of 295.5 %².
SPY is close to the least connected end of NDRA's tracked universe, ranking #8 of 11. On 12-month performance NDRA holds a 10.9-point edge, +31.5% against +20.6%. Risk is not evenly split, since NDRA carries 10.4 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.
NDRA vs SPY: side by side
| NDRA (ENDRA Life Sciences Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +31.5% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 150.8% | 14.5% |
| Beta vs S&P 500 | 1.41 | 1.00 |
| Max drawdown (3Y) | -99.9% | -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 | NDRA | SPY |
|---|---|---|
| 2022 | -70.6% | -18.2% |
| 2023 | -47.9% | +26.2% |
| 2024 | -99.8% | +24.9% |
| 2025 | -27.6% | +17.7% |
| 2026 | +19.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NDRA and SPY good diversifiers for each other?
Yes: at 0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NDRA and SPY?
Using weekly returns as of 2026-08-27: 0.14 over 3 years, with 0.36 over the last year and 0.13 over 5 years.
Is SPY a good diversifier for NDRA?
Yes: at 0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.14 mean?
A reading of 0.14 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: NDRA correlations · SPY correlations
