PHGE vs SPY: Correlation
BiomX Inc. (PHGE) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.03.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PHGE and SPY?
Across a 3-year window, the weekly returns of PHGE and SPY correlate at 0.03, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.10) runs below the 3-year figure (0.03). Stretching to 5 years gives 0.12, with an annualized covariance of 68.9 %².
By 3-year correlation, SPY places #7 of the 21 assets tracked against PHGE. The last year tells two different stories: SPY led by 119.3 percentage points, -98.7% for PHGE against +20.6% for SPY. Risk is not evenly split, since PHGE carries 10.1 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.
PHGE vs SPY: side by side
| PHGE (BiomX Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -98.7% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 147.0% | 14.5% |
| Beta vs S&P 500 | 0.33 | 1.00 |
| Max drawdown (3Y) | -99.9% | -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 | PHGE | SPY |
|---|---|---|
| 2022 | -88.3% | -18.2% |
| 2023 | +49.7% | +26.2% |
| 2024 | -73.9% | +24.9% |
| 2025 | -86.5% | +17.7% |
| 2026 | -92.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PHGE and SPY good diversifiers for each other?
Yes. With a correlation of 0.03, PHGE and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PHGE and SPY?
The PHGE/SPY correlation stands at 0.03 on a 3-year window (1 year: -0.10, 5 years: 0.12), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for PHGE?
Yes. With a correlation of 0.03, PHGE and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.03 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: PHGE correlations · SPY correlations
