SGMT vs SPY: Correlation
Measured on weekly returns over the past three years, Sagimet Biosciences Inc. - Series A (SGMT) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SGMT and SPY?
On 3 years of weekly data the SGMT/SPY correlation comes out at 0.37, moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 677.6 %².
Among the 11 assets we track against SGMT, SPY sits near the bottom by co-movement, at rank #7. Their recent paths diverged sharply: over the last 12 months SGMT outperformed by 17.6 percentage points (+38.2% for SGMT against +20.6% for SPY). Risk is not evenly split, since SGMT carries 8.7 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.
SGMT vs SPY: side by side
| SGMT (Sagimet Biosciences Inc. - Series A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +38.2% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 126.2% | 14.5% |
| Beta vs S&P 500 | 3.24 | 1.00 |
| Max drawdown (3Y) | -89.7% | -18.8% |
| Market cap | $0.7B | – |
| 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 | SGMT | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | -17.0% | +24.9% |
| 2025 | +31.6% | +17.7% |
| 2026 | +81.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SGMT and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SGMT and SPY?
The SGMT/SPY correlation stands at 0.37 on a 3-year window (1 year: 0.45, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for SGMT?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/sgmt-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/sgmt-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SGMT correlations · SPY correlations
