NGEN vs SPY: Correlation
NervGen Pharma Corp. (NGEN) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.10.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NGEN and SPY?
Over the past 3 years, NGEN and SPY moved with a correlation of 0.10, which is weak. Lately the two have moved closer together, with the 1-year correlation at 0.21 versus 0.10 over 3 years. Over 5 years the correlation is 0.13, and the annualized covariance of weekly returns is 119.2 %².
By 3-year correlation, SPY places #7 of the 16 assets tracked against NGEN. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 23.7 percentage points (-3.1% for NGEN against +20.6% for SPY). One caveat on sizing: NGEN is 5.8 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.
NGEN vs SPY: side by side
| NGEN (NervGen Pharma Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -3.1% | +20.6% |
| 5-year return | +44.1% | +82.4% |
| Volatility (ann.) | 84.7% | 14.5% |
| Beta vs S&P 500 | 0.57 | 1.00 |
| Max drawdown (3Y) | -73.4% | -18.8% |
| Market cap | $0.3B | – |
| 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 | NGEN | SPY |
|---|---|---|
| 2022 | -44.1% | -18.2% |
| 2023 | +71.4% | +26.2% |
| 2024 | +6.9% | +24.9% |
| 2025 | +156.9% | +17.7% |
| 2026 | -58.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NGEN and SPY good diversifiers for each other?
Yes: at 0.10, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NGEN and SPY?
The NGEN/SPY correlation stands at 0.10 on a 3-year window (1 year: 0.21, 5 years: 0.13), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for NGEN?
Yes: at 0.10, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.10 mean?
A reading of 0.10 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: NGEN correlations · SPY correlations
