SPY vs STTK: Correlation
SPDR S&P 500 ETF Trust (SPY) and Shattuck Labs, Inc. (STTK) show a weak relationship: their 3-year correlation of weekly returns is 0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and STTK?
Over the past 3 years, SPY and STTK moved with a correlation of 0.23, which is weak. The link has loosened recently: the 1-year correlation (0.04) runs below the 3-year figure (0.23). Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 485.2 %².
Within SPY's tracked universe of 4755 assets, STTK comes in at #2979 by 3-year correlation. The last year tells two different stories: STTK led by 644.4 percentage points, +20.6% for SPY against +665.0% for STTK. One caveat on sizing: STTK is 10.0 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 STTK: side by side
| SPY (SPDR S&P 500 ETF Trust) | STTK (Shattuck Labs, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +665.0% |
| 5-year return | +82.4% | -63.7% |
| Volatility (ann.) | 14.5% | 145.0% |
| Beta vs S&P 500 | 1.00 | 2.32 |
| Max drawdown (3Y) | -18.8% | -93.5% |
| Market cap | – | $0.8B |
| 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 | STTK |
|---|---|---|
| 2022 | -18.2% | -73.0% |
| 2023 | +26.2% | +210.0% |
| 2024 | +24.9% | -83.0% |
| 2025 | +17.7% | +201.7% |
| 2026 | +13.7% | +109.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and STTK good diversifiers for each other?
Reasonably. At 0.23, SPY and STTK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and STTK?
Using weekly returns as of 2026-08-27: 0.23 over 3 years, with 0.04 over the last year and 0.20 over 5 years.
Is STTK a good diversifier for SPY?
Reasonably. At 0.23, SPY and STTK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.23 mean?
On the −1 to +1 scale, 0.23 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-sttk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-sttk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · STTK correlations
