SGML vs SPY: Correlation
Sigma Lithium Corporation (SGML) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SGML and SPY?
On 3 years of weekly data the SGML/SPY correlation comes out at 0.28, weak. Recent behaviour matches the longer record: 0.30 over 1 year against 0.28 over 3. The 5-year figure is 0.30, and annualized covariance runs at 395.8 %².
SPY is close to the least connected end of SGML's tracked universe, ranking #8 of 12. The last year tells two different stories: SGML led by 67.3 percentage points, +87.9% for SGML against +20.6% for SPY. Risk is not evenly split, since SGML 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.
SGML vs SPY: side by side
| SGML (Sigma Lithium Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +87.9% | +20.6% |
| 5-year return | +69.8% | +82.4% |
| Volatility (ann.) | 97.8% | 14.5% |
| Beta vs S&P 500 | 1.89 | 1.00 |
| Max drawdown (3Y) | -88.9% | -18.8% |
| Market cap | $1.4B | – |
| 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 | SGML | SPY |
|---|---|---|
| 2022 | +171.1% | -18.2% |
| 2023 | +11.7% | +26.2% |
| 2024 | -64.4% | +24.9% |
| 2025 | +17.6% | +17.7% |
| 2026 | -4.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SGML and SPY good diversifiers for each other?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SGML and SPY?
As of 2026-08-27, the correlation of weekly returns between SGML and SPY is 0.28 over 3 years, 0.30 over 1 year and 0.30 over 5 years.
Is SPY a good diversifier for SGML?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.28 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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Related comparisons
Hubs: SGML correlations · SPY correlations
