RGTI vs SPY: Correlation
Rigetti Computing, Inc. (RGTI) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RGTI and SPY?
Over the past 3 years, RGTI and SPY moved with a correlation of 0.29, which is weak. The link has tightened recently: the 1-year correlation (0.45) runs above the 3-year figure (0.29). Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 550.8 %².
SPY is close to the least connected end of RGTI's tracked universe, ranking #16 of 20. On 12-month performance SPY holds a 13.8-point edge, +6.8% against +20.6%. One caveat on sizing: RGTI is 8.9 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.
RGTI vs SPY: side by side
| RGTI (Rigetti Computing, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +6.8% | +20.6% |
| 5-year return | +69.5% | +82.4% |
| Volatility (ann.) | 129.7% | 14.5% |
| Beta vs S&P 500 | 2.64 | 1.00 |
| Max drawdown (3Y) | -77.1% | -18.8% |
| Market cap | $5.5B | – |
| 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 | RGTI | SPY |
|---|---|---|
| 2022 | -92.9% | -18.2% |
| 2023 | +35.1% | +26.2% |
| 2024 | +1449.2% | +24.9% |
| 2025 | +45.2% | +17.7% |
| 2026 | -25.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RGTI and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between RGTI and SPY?
Using weekly returns as of 2026-08-27: 0.29 over 3 years, with 0.45 over the last year and 0.24 over 5 years.
Is SPY a good diversifier for RGTI?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.29 mean?
A reading of 0.29 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: RGTI correlations · SPY correlations
