NVCT vs SPY: Correlation
How closely do Nuvectis Pharma, Inc. (NVCT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.13, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVCT and SPY?
Across a 3-year window, the weekly returns of NVCT and SPY correlate at 0.13, weak. Lately the two have drifted apart, with the 1-year correlation at -0.15 versus 0.13 over 3 years. Stretching to 5 years gives 0.06, with an annualized covariance of 203.3 %².
Among the 11 assets we track against NVCT, SPY ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NVCT ahead by 258.2 points (+278.8% versus +20.6%). One caveat on sizing: NVCT is 7.3 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.
NVCT vs SPY: side by side
| NVCT (Nuvectis Pharma, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +278.8% | +20.6% |
| 5-year return | +675.1% | +82.4% |
| Volatility (ann.) | 105.8% | 14.5% |
| Beta vs S&P 500 | 0.97 | 1.00 |
| Max drawdown (3Y) | -69.5% | -18.8% |
| Market cap | $0.8B | – |
| 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 | NVCT | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | +11.2% | +26.2% |
| 2024 | -35.1% | +24.9% |
| 2025 | +39.6% | +17.7% |
| 2026 | +233.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVCT and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
FAQ
What is the correlation between NVCT and SPY?
Using weekly returns as of 2026-08-27: 0.13 over 3 years, with -0.15 over the last year and 0.06 over 5 years.
Is SPY a good diversifier for NVCT?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
What does a correlation of 0.13 mean?
A reading of 0.13 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: NVCT correlations · SPY correlations
