RXST vs SPY: Correlation
Measured on weekly returns over the past three years, RxSight, Inc. (RXST) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RXST and SPY?
Across a 3-year window, the weekly returns of RXST and SPY correlate at 0.31, moderate. The link has loosened recently: the 1-year correlation (0.20) runs below the 3-year figure (0.31). Stretching to 5 years gives 0.28, with an annualized covariance of 293.2 %².
By 3-year correlation, SPY places #6 of the 12 assets tracked against RXST. Correlation aside, the last 12 months split them widely, with SPY ahead by 43.3 points (-22.7% versus +20.6%). Risk is not evenly split, since RXST carries 4.5 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.
RXST vs SPY: side by side
| RXST (RxSight, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -22.7% | +20.6% |
| 5-year return | -57.2% | +82.4% |
| Volatility (ann.) | 65.8% | 14.5% |
| Beta vs S&P 500 | 1.40 | 1.00 |
| Max drawdown (3Y) | -92.9% | -18.8% |
| Market cap | $0.3B | – |
| 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 | RXST | SPY |
|---|---|---|
| 2022 | +12.6% | -18.2% |
| 2023 | +218.2% | +26.2% |
| 2024 | -14.7% | +24.9% |
| 2025 | -69.7% | +17.7% |
| 2026 | -36.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RXST and SPY good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between RXST and SPY?
Using weekly returns as of 2026-08-27: 0.31 over 3 years, with 0.20 over the last year and 0.28 over 5 years.
Is SPY a good diversifier for RXST?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
A reading of 0.31 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: RXST correlations · SPY correlations
