SLSN vs SPY: Correlation
Measured on weekly returns over the past three years, Solesence, Inc. (SLSN) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.21, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SLSN and SPY?
On 3 years of weekly data the SLSN/SPY correlation comes out at 0.21, weak. Recent behaviour matches the longer record: 0.31 over 1 year against 0.21 over 3. The 5-year figure is 0.19, and annualized covariance runs at 320.2 %².
SPY is close to the least connected end of SLSN's tracked universe, ranking #6 of 10. Correlation aside, the last 12 months split them widely, with SPY ahead by 94.0 points (-73.4% versus +20.6%). One caveat on sizing: SLSN is 7.2 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.
SLSN vs SPY: side by side
| SLSN (Solesence, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -73.4% | +20.6% |
| 5-year return | -58.3% | +82.4% |
| Volatility (ann.) | 103.9% | 14.5% |
| Beta vs S&P 500 | 1.53 | 1.00 |
| Max drawdown (3Y) | -87.7% | -18.8% |
| Market cap | $0.1B | – |
| 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 | SLSN | SPY |
|---|---|---|
| 2022 | -74.3% | -18.2% |
| 2023 | -46.9% | +26.2% |
| 2024 | +306.7% | +24.9% |
| 2025 | -34.4% | +17.7% |
| 2026 | -40.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SLSN and SPY good diversifiers for each other?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SLSN and SPY?
The SLSN/SPY correlation stands at 0.21 on a 3-year window (1 year: 0.31, 5 years: 0.19), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for SLSN?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.21 mean?
A reading of 0.21 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: SLSN correlations · SPY correlations
