RGC vs SPY: Correlation
Measured on weekly returns over the past three years, Regencell Bioscience Holdings Limited (RGC) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of -0.07, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RGC and SPY?
On 3 years of weekly data the RGC/SPY correlation comes out at -0.07, near zero, meaning they move largely independently. The past 12 months show a tighter link (0.18) than the 3-year average (-0.07). The 5-year figure is -0.03, and annualized covariance runs at -418.6 %².
Within RGC's tracked universe of 25 assets, SPY comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 81.8 points (-61.2% versus +20.6%). Note the risk asymmetry: RGC runs 30.4 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.
RGC vs SPY: side by side
| RGC (Regencell Bioscience Holdings Limited) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -61.2% | +20.6% |
| 5-year return | +626.3% | +82.4% |
| Volatility (ann.) | 441.0% | 14.5% |
| Beta vs S&P 500 | -2.00 | 1.00 |
| Max drawdown (3Y) | -93.9% | -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 | RGC | SPY |
|---|---|---|
| 2022 | -12.4% | -18.2% |
| 2023 | -62.4% | +26.2% |
| 2024 | -53.0% | +24.9% |
| 2025 | +16053.8% | +17.7% |
| 2026 | -73.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RGC and SPY good diversifiers for each other?
Yes. With a correlation of -0.07, RGC and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RGC and SPY?
The RGC/SPY correlation stands at -0.07 on a 3-year window (1 year: 0.18, 5 years: -0.03), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for RGC?
Yes. With a correlation of -0.07, RGC and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.07 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/rgc-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rgc-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RGC correlations · SPY correlations
