SLDB vs SPY: Correlation
How closely do Solid Biosciences Inc. (SLDB) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SLDB and SPY?
Across a 3-year window, the weekly returns of SLDB and SPY correlate at 0.33, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.20 versus 0.33 over 3 years. Stretching to 5 years gives 0.32, with an annualized covariance of 491.8 %².
SPY is close to the least connected end of SLDB's tracked universe, ranking #10 of 14. Correlation aside, the last 12 months split them widely, with SLDB ahead by 59.6 points (+80.2% versus +20.6%). One caveat on sizing: SLDB is 7.1 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.
SLDB vs SPY: side by side
| SLDB (Solid Biosciences Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +80.2% | +20.6% |
| 5-year return | -75.0% | +82.4% |
| Volatility (ann.) | 103.6% | 14.5% |
| Beta vs S&P 500 | 2.35 | 1.00 |
| Max drawdown (3Y) | -82.9% | -18.8% |
| Market cap | $1.1B | – |
| 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 | SLDB | SPY |
|---|---|---|
| 2022 | -79.5% | -18.2% |
| 2023 | +14.1% | +26.2% |
| 2024 | -34.9% | +24.9% |
| 2025 | +41.0% | +17.7% |
| 2026 | +79.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SLDB and SPY good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SLDB and SPY?
As of 2026-08-27, the correlation of weekly returns between SLDB and SPY is 0.33 over 3 years, 0.20 over 1 year and 0.32 over 5 years.
Is SPY a good diversifier for SLDB?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
A reading of 0.33 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: SLDB correlations · SPY correlations
