NSPR vs SPY: Correlation
InspireMD Inc. (NSPR) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.01.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NSPR and SPY?
Across a 3-year window, the weekly returns of NSPR and SPY correlate at 0.01, near zero, meaning they move largely independently. The link has tightened recently: the 1-year correlation (0.12) runs above the 3-year figure (0.01). Stretching to 5 years gives 0.14, with an annualized covariance of 9.4 %².
Among the 13 assets we track against NSPR, SPY ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 84.2 points (-63.6% versus +20.6%). One caveat on sizing: NSPR is 4.0 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.
NSPR vs SPY: side by side
| NSPR (InspireMD Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -63.6% | +20.6% |
| 5-year return | -80.3% | +82.4% |
| Volatility (ann.) | 58.4% | 14.5% |
| Beta vs S&P 500 | 0.05 | 1.00 |
| Max drawdown (3Y) | -82.8% | -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 | NSPR | SPY |
|---|---|---|
| 2022 | -71.5% | -18.2% |
| 2023 | +226.7% | +26.2% |
| 2024 | -6.4% | +24.9% |
| 2025 | -32.3% | +17.7% |
| 2026 | -50.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NSPR and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.01 means the two rarely move for the same reasons.
FAQ
What is the correlation between NSPR and SPY?
Using weekly returns as of 2026-08-27: 0.01 over 3 years, with 0.12 over the last year and 0.14 over 5 years.
Is SPY a good diversifier for NSPR?
By historical standards, yes. A correlation of 0.01 means the two rarely move for the same reasons.
What does a correlation of 0.01 mean?
A reading of 0.01 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: NSPR correlations · SPY correlations
