PRME vs SPY: Correlation
Measured on weekly returns over the past three years, Prime Medicine, Inc. (PRME) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRME and SPY?
Across a 3-year window, the weekly returns of PRME and SPY correlate at 0.44, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.29 versus 0.44 over 3 years. Stretching to 5 years gives 0.42, with an annualized covariance of 620.7 %².
Among the 18 assets we track against PRME, SPY ranks #8 by 3-year correlation. On 12-month performance SPY holds a 14.5-point edge, +6.1% against +20.6%. Risk is not evenly split, since PRME carries 6.8 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.
PRME vs SPY: side by side
| PRME (Prime Medicine, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +6.1% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 98.7% | 14.5% |
| Beta vs S&P 500 | 2.97 | 1.00 |
| Max drawdown (3Y) | -91.4% | -18.8% |
| Market cap | $0.7B | – |
| 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 | PRME | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | -52.3% | +26.2% |
| 2024 | -67.0% | +24.9% |
| 2025 | +18.8% | +17.7% |
| 2026 | +4.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRME and SPY good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PRME and SPY?
As of 2026-08-27, the correlation of weekly returns between PRME and SPY is 0.44 over 3 years, 0.29 over 1 year and 0.42 over 5 years.
Is SPY a good diversifier for PRME?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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: PRME correlations · SPY correlations
