OGEN vs SPY: Correlation
How closely do Oragenics Inc. (OGEN) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.23, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OGEN and SPY?
Across a 3-year window, the weekly returns of OGEN and SPY correlate at 0.23, weak. The link has tightened recently: the 1-year correlation (0.40) runs above the 3-year figure (0.23). Stretching to 5 years gives 0.22, with an annualized covariance of 410.8 %².
Out of 10 assets tracked against OGEN, SPY lands near the bottom at #6. Correlation aside, the last 12 months split them widely, with SPY ahead by 72.2 points (-51.6% versus +20.6%). Risk is not evenly split, since OGEN carries 8.4 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.
OGEN vs SPY: side by side
| OGEN (Oragenics Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -51.6% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 122.0% | 14.5% |
| Beta vs S&P 500 | 1.97 | 1.00 |
| Max drawdown (3Y) | -99.8% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 0.5 | – |
| 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 | OGEN | SPY |
|---|---|---|
| 2022 | -75.6% | -18.2% |
| 2023 | -14.7% | +26.2% |
| 2024 | -93.4% | +24.9% |
| 2025 | -93.0% | +17.7% |
| 2026 | -31.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OGEN and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between OGEN and SPY?
As of 2026-08-27, the correlation of weekly returns between OGEN and SPY is 0.23 over 3 years, 0.40 over 1 year and 0.22 over 5 years.
Is SPY a good diversifier for OGEN?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.23 mean?
On the −1 to +1 scale, 0.23 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: OGEN correlations · SPY correlations
