PALI vs SPY: Correlation
How closely do Palisade Bio, Inc. (PALI) 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 PALI and SPY?
On 3 years of weekly data the PALI/SPY correlation comes out at 0.04, near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.05 lands near the 3-year figure. The 5-year figure is 0.10, and annualized covariance runs at 61.9 %².
By 3-year correlation, SPY places #6 of the 12 assets tracked against PALI. The last year tells two different stories: PALI led by 199.1 percentage points, +219.7% for PALI against +20.6% for SPY. Risk is not evenly split, since PALI carries 7.1 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.
PALI vs SPY: side by side
| PALI (Palisade Bio, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +219.7% | +20.6% |
| 5-year return | -99.9% | +82.4% |
| Volatility (ann.) | 102.3% | 14.5% |
| Beta vs S&P 500 | 0.30 | 1.00 |
| Max drawdown (3Y) | -97.5% | -18.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 3.2 | – |
| 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 | PALI | SPY |
|---|---|---|
| 2022 | -92.0% | -18.2% |
| 2023 | -88.7% | +26.2% |
| 2024 | -81.4% | +24.9% |
| 2025 | +42.4% | +17.7% |
| 2026 | -10.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PALI and SPY good diversifiers for each other?
Yes. With a correlation of 0.04, PALI and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PALI and SPY?
The PALI/SPY correlation stands at 0.04 on a 3-year window (1 year: 0.05, 5 years: 0.10), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for PALI?
Yes. With a correlation of 0.04, PALI and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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: PALI correlations · SPY correlations
