RZLT vs SPY: Correlation
Measured on weekly returns over the past three years, Rezolute, Inc. (RZLT) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.09, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RZLT and SPY?
Across a 3-year window, the weekly returns of RZLT and SPY correlate at 0.09, near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.02 over 1 year against 0.09 over 3. Stretching to 5 years gives 0.12, with an annualized covariance of 135.4 %².
Among the 12 assets we track against RZLT, SPY ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 51.4 points (-30.8% versus +20.6%). Note the risk asymmetry: RZLT runs 7.1 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.
RZLT vs SPY: side by side
| RZLT (Rezolute, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -30.8% | +20.6% |
| 5-year return | -47.6% | +82.4% |
| Volatility (ann.) | 103.6% | 14.5% |
| Beta vs S&P 500 | 0.65 | 1.00 |
| Max drawdown (3Y) | -87.2% | -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 | RZLT | SPY |
|---|---|---|
| 2022 | -56.7% | -18.2% |
| 2023 | -52.0% | +26.2% |
| 2024 | +393.5% | +24.9% |
| 2025 | -51.8% | +17.7% |
| 2026 | +111.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RZLT and SPY good diversifiers for each other?
Yes. With a correlation of 0.09, RZLT and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RZLT and SPY?
As of 2026-08-27, the correlation of weekly returns between RZLT and SPY is 0.09 over 3 years, 0.02 over 1 year and 0.12 over 5 years.
Is SPY a good diversifier for RZLT?
Yes. With a correlation of 0.09, RZLT and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.09 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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Hubs: RZLT correlations · SPY correlations
