PDSB vs SPY: Correlation
PDS Biotechnology Corporation (PDSB) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PDSB and SPY?
Over the past 3 years, PDSB and SPY moved with a correlation of 0.43, which is moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 605.3 %².
Among the 10 assets we track against PDSB, SPY sits near the bottom by co-movement, at rank #6. The last year tells two different stories: SPY led by 103.6 percentage points, -83.0% for PDSB against +20.6% for SPY. One caveat on sizing: PDSB is 6.7 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.
PDSB vs SPY: side by side
| PDSB (PDS Biotechnology Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -83.0% | +20.6% |
| 5-year return | -98.5% | +82.4% |
| Volatility (ann.) | 97.2% | 14.5% |
| Beta vs S&P 500 | 2.90 | 1.00 |
| Max drawdown (3Y) | -96.9% | -18.8% |
| Market cap | – | – |
| 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 | PDSB | SPY |
|---|---|---|
| 2022 | +63.0% | -18.2% |
| 2023 | -62.3% | +26.2% |
| 2024 | -67.2% | +24.9% |
| 2025 | -52.8% | +17.7% |
| 2026 | -71.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PDSB and SPY good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PDSB and SPY?
As of 2026-08-27, the correlation of weekly returns between PDSB and SPY is 0.43 over 3 years, 0.41 over 1 year and 0.38 over 5 years.
Is SPY a good diversifier for PDSB?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
A reading of 0.43 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: PDSB correlations · SPY correlations
