PXLW vs SPY: Correlation
Pixelworks, Inc. (PXLW) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PXLW and SPY?
Over the past 3 years, PXLW and SPY moved with a correlation of 0.21, which is weak. Little has changed lately, as the 1-year reading of 0.28 lands near the 3-year figure. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 293.6 %².
Out of 13 assets tracked against PXLW, SPY lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 34.2 percentage points (-13.6% for PXLW against +20.6% for SPY). Note the risk asymmetry: PXLW runs 6.8 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.
PXLW vs SPY: side by side
| PXLW (Pixelworks, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -13.6% | +20.6% |
| 5-year return | -90.7% | +82.4% |
| Volatility (ann.) | 99.0% | 14.5% |
| Beta vs S&P 500 | 1.41 | 1.00 |
| Max drawdown (3Y) | -86.3% | -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 | PXLW | SPY |
|---|---|---|
| 2022 | -59.8% | -18.2% |
| 2023 | -26.0% | +26.2% |
| 2024 | -44.3% | +24.9% |
| 2025 | -27.4% | +17.7% |
| 2026 | +8.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PXLW and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PXLW and SPY?
The PXLW/SPY correlation stands at 0.21 on a 3-year window (1 year: 0.28, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for PXLW?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.21 mean?
On the −1 to +1 scale, 0.21 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: PXLW correlations · SPY correlations
