RXRX vs SPY: Correlation
How closely do Recursion Pharmaceuticals, Inc. (RXRX) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RXRX and SPY?
Across a 3-year window, the weekly returns of RXRX and SPY correlate at 0.54, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.54 over 3. Stretching to 5 years gives 0.47, with an annualized covariance of 642.4 %².
Within RXRX's tracked universe of 22 assets, SPY comes in at #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 50.3 percentage points (-29.7% for RXRX against +20.6% for SPY). Risk is not evenly split, since RXRX carries 5.7 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.
RXRX vs SPY: side by side
| RXRX (Recursion Pharmaceuticals, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -29.7% | +20.6% |
| 5-year return | -86.0% | +82.4% |
| Volatility (ann.) | 82.2% | 14.5% |
| Beta vs S&P 500 | 3.07 | 1.00 |
| Max drawdown (3Y) | -81.7% | -18.8% |
| Market cap | $1.8B | – |
| 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 | RXRX | SPY |
|---|---|---|
| 2022 | -55.0% | -18.2% |
| 2023 | +27.9% | +26.2% |
| 2024 | -31.4% | +24.9% |
| 2025 | -39.5% | +17.7% |
| 2026 | -15.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RXRX and SPY good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between RXRX and SPY?
As of 2026-08-27, the correlation of weekly returns between RXRX and SPY is 0.54 over 3 years, 0.52 over 1 year and 0.47 over 5 years.
Is SPY a good diversifier for RXRX?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 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.
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Related comparisons
Hubs: RXRX correlations · SPY correlations
