PCSA vs SPY: Correlation
How closely do Processa Pharmaceuticals, Inc. (PCSA) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.10, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PCSA and SPY?
Across a 3-year window, the weekly returns of PCSA and SPY correlate at 0.10, weak. Recent behaviour matches the longer record: 0.07 over 1 year against 0.10 over 3. Stretching to 5 years gives 0.10, with an annualized covariance of 217.7 %².
Among the 15 assets we track against PCSA, SPY ranks #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 81.0 percentage points (-60.4% for PCSA against +20.6% for SPY). One caveat on sizing: PCSA is 10.6 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.
PCSA vs SPY: side by side
| PCSA (Processa Pharmaceuticals, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -60.4% | +20.6% |
| 5-year return | -99.9% | +82.4% |
| Volatility (ann.) | 153.6% | 14.5% |
| Beta vs S&P 500 | 1.04 | 1.00 |
| Max drawdown (3Y) | -99.6% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 3.3 | – |
| 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 | PCSA | SPY |
|---|---|---|
| 2022 | -77.6% | -18.2% |
| 2023 | -69.5% | +26.2% |
| 2024 | -86.8% | +24.9% |
| 2025 | -87.0% | +17.7% |
| 2026 | -26.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PCSA and SPY good diversifiers for each other?
Yes: at 0.10, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PCSA and SPY?
Using weekly returns as of 2026-08-27: 0.10 over 3 years, with 0.07 over the last year and 0.10 over 5 years.
Is SPY a good diversifier for PCSA?
Yes: at 0.10, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.10 mean?
A reading of 0.10 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: PCSA correlations · SPY correlations
