ODYS vs SPY: Correlation
How closely do Odysight.ai Inc. (ODYS) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.04, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ODYS and SPY?
Across a 3-year window, the weekly returns of ODYS and SPY correlate at 0.04, near zero, meaning they move largely independently. Recent behaviour matches the longer record: -0.04 over 1 year against 0.04 over 3. Stretching to 5 years gives -0.02, with an annualized covariance of 50.4 %².
Within ODYS's tracked universe of 17 assets, SPY comes in at #6 by 3-year correlation. The last year tells two different stories: SPY led by 20.9 percentage points, -0.3% for ODYS against +20.6% for SPY. Note the risk asymmetry: ODYS runs 5.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ODYS vs SPY: side by side
| ODYS (Odysight.ai Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -0.3% | +20.6% |
| 5-year return | -63.1% | +82.4% |
| Volatility (ann.) | 85.6% | 14.5% |
| Beta vs S&P 500 | 0.24 | 1.00 |
| Max drawdown (3Y) | -71.9% | -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 | ODYS | SPY |
|---|---|---|
| 2022 | -37.5% | -18.2% |
| 2023 | -39.0% | +26.2% |
| 2024 | +162.3% | +24.9% |
| 2025 | -58.8% | +17.7% |
| 2026 | +15.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ODYS and SPY good diversifiers for each other?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ODYS and SPY?
As of 2026-08-27, the correlation of weekly returns between ODYS and SPY is 0.04 over 3 years, -0.04 over 1 year and -0.02 over 5 years.
Is SPY a good diversifier for ODYS?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.04 mean?
On the −1 to +1 scale, 0.04 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: ODYS correlations · SPY correlations
