SPY vs STLN: Correlation
SPDR S&P 500 ETF Trust (SPY) and Starling Oncology, Inc. (STLN) show a weak relationship: their 3-year correlation of weekly returns is 0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and STLN?
On 3 years of weekly data the SPY/STLN correlation comes out at 0.17, weak. Lately the two have moved closer together, with the 1-year correlation at 0.32 versus 0.17 over 3 years. The 5-year figure is 0.21, and annualized covariance runs at 290.5 %².
Within SPY's tracked universe of 4755 assets, STLN comes in at #3565 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months STLN outperformed by 62.6 percentage points (+20.6% for SPY against +83.2% for STLN). One caveat on sizing: STLN is 8.0 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.
SPY vs STLN: side by side
| SPY (SPDR S&P 500 ETF Trust) | STLN (Starling Oncology, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +83.2% |
| 5-year return | +82.4% | -36.1% |
| Volatility (ann.) | 14.5% | 116.5% |
| Beta vs S&P 500 | 1.00 | 1.39 |
| Max drawdown (3Y) | -18.8% | -94.8% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | 1.01% | 0.00% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
SPY, State Street Investment Management's Large Blend fund, carries $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | STLN |
|---|---|---|
| 2022 | -18.2% | -83.1% |
| 2023 | +26.2% | +23.6% |
| 2024 | +24.9% | -84.9% |
| 2025 | +17.7% | +1052.1% |
| 2026 | +13.7% | +78.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and STLN good diversifiers for each other?
Yes. With a correlation of 0.17, SPY and STLN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPY and STLN?
The SPY/STLN correlation stands at 0.17 on a 3-year window (1 year: 0.32, 5 years: 0.21), computed from weekly returns as of 2026-08-27.
Is STLN a good diversifier for SPY?
Yes. With a correlation of 0.17, SPY and STLN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.17 mean?
A reading of 0.17 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/spy-vs-stln.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-stln/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · STLN correlations
