PLX vs SPY: Correlation
Protalix BioTherapeutics, Inc. (DE) (PLX) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLX and SPY?
Over the past 3 years, PLX and SPY moved with a correlation of 0.19, which is weak. Little has changed lately, as the 1-year reading of 0.25 lands near the 3-year figure. Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 181.4 %².
Out of 10 assets tracked against PLX, SPY lands near the bottom at #6. Correlation aside, the last 12 months split them widely, with PLX ahead by 42.5 points (+63.1% versus +20.6%). One caveat on sizing: PLX is 4.5 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.
PLX vs SPY: side by side
| PLX (Protalix BioTherapeutics, Inc. (DE)) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +63.1% | +20.6% |
| 5-year return | +66.2% | +82.4% |
| Volatility (ann.) | 65.1% | 14.5% |
| Beta vs S&P 500 | 0.87 | 1.00 |
| Max drawdown (3Y) | -56.0% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 11.3 | – |
| 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 | PLX | SPY |
|---|---|---|
| 2022 | +65.1% | -18.2% |
| 2023 | +29.9% | +26.2% |
| 2024 | +5.6% | +24.9% |
| 2025 | -4.3% | +17.7% |
| 2026 | +45.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLX and SPY good diversifiers for each other?
Yes. With a correlation of 0.19, PLX and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PLX and SPY?
The PLX/SPY correlation stands at 0.19 on a 3-year window (1 year: 0.25, 5 years: 0.20), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for PLX?
Yes. With a correlation of 0.19, PLX and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.19 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/plx-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/plx-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PLX correlations · SPY correlations
