RLMD vs SPY: Correlation
How closely do Relmada Therapeutics, Inc. (RLMD) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.17, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RLMD and SPY?
Over the past 3 years, RLMD and SPY moved with a correlation of 0.17, which is weak. Lately the two have drifted apart, with the 1-year correlation at 0.04 versus 0.17 over 3 years. Over 5 years the correlation is 0.19, and the annualized covariance of weekly returns is 338.9 %².
SPY is close to the least connected end of RLMD's tracked universe, ranking #7 of 11. The last year tells two different stories: RLMD led by 554.0 percentage points, +574.6% for RLMD against +20.6% for SPY. Note the risk asymmetry: RLMD runs 9.3 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.
RLMD vs SPY: side by side
| RLMD (Relmada Therapeutics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +574.6% | +20.6% |
| 5-year return | -81.0% | +82.4% |
| Volatility (ann.) | 134.2% | 14.5% |
| Beta vs S&P 500 | 1.62 | 1.00 |
| Max drawdown (3Y) | -96.3% | -18.8% |
| Market cap | $0.5B | – |
| 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 | RLMD | SPY |
|---|---|---|
| 2022 | -84.5% | -18.2% |
| 2023 | +18.6% | +26.2% |
| 2024 | -87.4% | +24.9% |
| 2025 | +828.8% | +17.7% |
| 2026 | -6.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RLMD and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between RLMD and SPY?
As of 2026-08-27, the correlation of weekly returns between RLMD and SPY is 0.17 over 3 years, 0.04 over 1 year and 0.19 over 5 years.
Is SPY a good diversifier for RLMD?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
What does a correlation of 0.17 mean?
A reading of 0.17 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: RLMD correlations · SPY correlations
