PACB vs SPY: Correlation
How closely do Pacific Biosciences of California, Inc. (PACB) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.19, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PACB and SPY?
On 3 years of weekly data the PACB/SPY correlation comes out at 0.19, weak. Little has changed lately, as the 1-year reading of 0.16 lands near the 3-year figure. The 5-year figure is 0.38, and annualized covariance runs at 253.8 %².
Among the 11 assets we track against PACB, SPY ranks #6 by 3-year correlation. Neither side won the trailing year by much: +16.5% against +20.6%. Risk is not evenly split, since PACB carries 6.4 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.
PACB vs SPY: side by side
| PACB (Pacific Biosciences of California, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +16.5% | +20.6% |
| 5-year return | -94.9% | +82.4% |
| Volatility (ann.) | 93.3% | 14.5% |
| Beta vs S&P 500 | 1.21 | 1.00 |
| Max drawdown (3Y) | -92.2% | -18.8% |
| Market cap | $0.5B | – |
| 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 | PACB | SPY |
|---|---|---|
| 2022 | -60.0% | -18.2% |
| 2023 | +19.9% | +26.2% |
| 2024 | -81.3% | +24.9% |
| 2025 | +2.2% | +17.7% |
| 2026 | -17.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PACB and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between PACB and SPY?
The PACB/SPY correlation stands at 0.19 on a 3-year window (1 year: 0.16, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for PACB?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
What does a correlation of 0.19 mean?
A reading of 0.19 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: PACB correlations · SPY correlations
