SABS vs SPY: Correlation
How closely do SAB Biotherapeutics, Inc. (SABS) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.11, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SABS and SPY?
On 3 years of weekly data the SABS/SPY correlation comes out at 0.11, weak. Little has changed lately, as the 1-year reading of 0.14 lands near the 3-year figure. The 5-year figure is 0.22, and annualized covariance runs at 140.7 %².
Among the 12 assets we track against SABS, SPY ranks #7 by 3-year correlation. The last year tells two different stories: SABS led by 64.8 percentage points, +85.4% for SABS against +20.6% for SPY. Risk is not evenly split, since SABS carries 6.0 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.
SABS vs SPY: side by side
| SABS (SAB Biotherapeutics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +85.4% | +20.6% |
| 5-year return | -96.1% | +82.4% |
| Volatility (ann.) | 86.9% | 14.5% |
| Beta vs S&P 500 | 0.67 | 1.00 |
| Max drawdown (3Y) | -89.0% | -18.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 16.4 | – |
| 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 | SABS | SPY |
|---|---|---|
| 2022 | -92.4% | -18.2% |
| 2023 | +16.6% | +26.2% |
| 2024 | -44.9% | +24.9% |
| 2025 | -1.4% | +17.7% |
| 2026 | +5.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SABS and SPY good diversifiers for each other?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SABS and SPY?
As of 2026-08-27, the correlation of weekly returns between SABS and SPY is 0.11 over 3 years, 0.14 over 1 year and 0.22 over 5 years.
Is SPY a good diversifier for SABS?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.11 mean?
On the −1 to +1 scale, 0.11 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: SABS correlations · SPY correlations
