PRCT vs SPY: Correlation
PROCEPT BioRobotics Corporation (PRCT) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRCT and SPY?
On 3 years of weekly data the PRCT/SPY correlation comes out at 0.28, weak. Lately the two have drifted apart, with the 1-year correlation at 0.13 versus 0.28 over 3 years. The 5-year figure is 0.37, and annualized covariance runs at 226.5 %².
Among the 11 assets we track against PRCT, SPY sits near the bottom by co-movement, at rank #7. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 70.1 percentage points (-49.5% for PRCT against +20.6% for SPY). Note the risk asymmetry: PRCT runs 3.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PRCT vs SPY: side by side
| PRCT (PROCEPT BioRobotics Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -49.5% | +20.6% |
| 5-year return | -50.9% | +82.4% |
| Volatility (ann.) | 55.9% | 14.5% |
| Beta vs S&P 500 | 1.08 | 1.00 |
| Max drawdown (3Y) | -83.2% | -18.8% |
| Market cap | $1.2B | – |
| 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 | PRCT | SPY |
|---|---|---|
| 2022 | +66.1% | -18.2% |
| 2023 | +0.9% | +26.2% |
| 2024 | +92.1% | +24.9% |
| 2025 | -60.9% | +17.7% |
| 2026 | -34.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRCT and SPY good diversifiers for each other?
Reasonably. At 0.28, PRCT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PRCT and SPY?
The PRCT/SPY correlation stands at 0.28 on a 3-year window (1 year: 0.13, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for PRCT?
Reasonably. At 0.28, PRCT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: PRCT correlations · SPY correlations
