SDGR vs SPY: Correlation
Schrodinger, Inc. (SDGR) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SDGR and SPY?
On 3 years of weekly data the SDGR/SPY correlation comes out at 0.48, moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. The 5-year figure is 0.49, and annualized covariance runs at 398.0 %².
Among the 21 assets we track against SDGR, SPY ranks #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 17.5 percentage points (+3.1% for SDGR against +20.6% for SPY). One caveat on sizing: SDGR is 4.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
SDGR vs SPY: side by side
| SDGR (Schrodinger, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +3.1% | +20.6% |
| 5-year return | -65.2% | +82.4% |
| Volatility (ann.) | 57.7% | 14.5% |
| Beta vs S&P 500 | 1.91 | 1.00 |
| Max drawdown (3Y) | -70.2% | -18.8% |
| Market cap | $1.5B | – |
| 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 | SDGR | SPY |
|---|---|---|
| 2022 | -46.3% | -18.2% |
| 2023 | +91.5% | +26.2% |
| 2024 | -46.1% | +24.9% |
| 2025 | -7.3% | +17.7% |
| 2026 | +14.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SDGR and SPY good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SDGR and SPY?
As of 2026-08-27, the correlation of weekly returns between SDGR and SPY is 0.48 over 3 years, 0.49 over 1 year and 0.49 over 5 years.
Is SPY a good diversifier for SDGR?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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: SDGR correlations · SPY correlations
