ORGO vs SPY: Correlation
How closely do Organogenesis Holdings Inc. - Class A (ORGO) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.20, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ORGO and SPY?
On 3 years of weekly data the ORGO/SPY correlation comes out at 0.20, weak. The past 12 months show a weaker link (0.03) than the 3-year average (0.20). The 5-year figure is 0.22, and annualized covariance runs at 261.9 %².
Within ORGO's tracked universe of 15 assets, SPY comes in at #7 by 3-year correlation. The last year tells two different stories: SPY led by 84.6 percentage points, -64.0% for ORGO against +20.6% for SPY. One caveat on sizing: ORGO is 6.2 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.
ORGO vs SPY: side by side
| ORGO (Organogenesis Holdings Inc. - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -64.0% | +20.6% |
| 5-year return | -89.3% | +82.4% |
| Volatility (ann.) | 90.0% | 14.5% |
| Beta vs S&P 500 | 1.25 | 1.00 |
| Max drawdown (3Y) | -74.5% | -18.8% |
| Market cap | $0.2B | – |
| 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 | ORGO | SPY |
|---|---|---|
| 2022 | -70.9% | -18.2% |
| 2023 | +52.0% | +26.2% |
| 2024 | -21.8% | +24.9% |
| 2025 | +61.9% | +17.7% |
| 2026 | -66.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ORGO and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ORGO and SPY?
The ORGO/SPY correlation stands at 0.20 on a 3-year window (1 year: 0.03, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for ORGO?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.20 mean?
On the −1 to +1 scale, 0.20 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: ORGO correlations · SPY correlations
