PMN vs SPY: Correlation
ProMIS Neurosciences Inc. (PMN) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.05.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PMN and SPY?
Over the past 3 years, PMN and SPY moved with a correlation of 0.05, which is near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (-0.03) sits close to the 3-year figure. Over 5 years the correlation is 0.09, and the annualized covariance of weekly returns is 94.4 %².
Among the 15 assets we track against PMN, SPY ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 15.0 percentage points (+5.6% for PMN against +20.6% for SPY). One caveat on sizing: PMN is 8.5 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.
PMN vs SPY: side by side
| PMN (ProMIS Neurosciences Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +5.6% | +20.6% |
| 5-year return | -94.2% | +82.4% |
| Volatility (ann.) | 122.6% | 14.5% |
| Beta vs S&P 500 | 0.45 | 1.00 |
| Max drawdown (3Y) | -90.4% | -18.8% |
| Market cap | $0.1B | – |
| 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 | PMN | SPY |
|---|---|---|
| 2022 | -34.2% | -18.2% |
| 2023 | -73.5% | +26.2% |
| 2024 | -17.4% | +24.9% |
| 2025 | -71.2% | +17.7% |
| 2026 | +104.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PMN and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.05 means the two rarely move for the same reasons.
FAQ
What is the correlation between PMN and SPY?
As of 2026-08-27, the correlation of weekly returns between PMN and SPY is 0.05 over 3 years, -0.03 over 1 year and 0.09 over 5 years.
Is SPY a good diversifier for PMN?
By historical standards, yes. A correlation of 0.05 means the two rarely move for the same reasons.
What does a correlation of 0.05 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: PMN correlations · SPY correlations
