SENS vs SPY: Correlation
How closely do Senseonics Holdings, Inc. (SENS) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.26, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SENS and SPY?
On 3 years of weekly data the SENS/SPY correlation comes out at 0.26, weak. Little has changed lately, as the 1-year reading of 0.32 lands near the 3-year figure. The 5-year figure is 0.32, and annualized covariance runs at 367.0 %².
Among the 13 assets we track against SENS, SPY sits near the bottom by co-movement, at rank #10. The last year tells two different stories: SPY led by 19.5 percentage points, +1.1% for SENS against +20.6% for SPY. Risk is not evenly split, since SENS carries 6.7 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.
SENS vs SPY: side by side
| SENS (Senseonics Holdings, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +1.1% | +20.6% |
| 5-year return | -87.7% | +82.4% |
| Volatility (ann.) | 97.8% | 14.5% |
| Beta vs S&P 500 | 1.76 | 1.00 |
| Max drawdown (3Y) | -81.5% | -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 | SENS | SPY |
|---|---|---|
| 2022 | -61.4% | -18.2% |
| 2023 | -44.7% | +26.2% |
| 2024 | -8.2% | +24.9% |
| 2025 | -47.2% | +17.7% |
| 2026 | +70.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SENS and SPY good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SENS and SPY?
As of 2026-08-27, the correlation of weekly returns between SENS and SPY is 0.26 over 3 years, 0.32 over 1 year and 0.32 over 5 years.
Is SPY a good diversifier for SENS?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 mean?
A reading of 0.26 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: SENS correlations · SPY correlations
