SPY vs TARA: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Protara Therapeutics, Inc. (TARA) trade together? Their weekly returns over three years give a correlation of 0.19, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TARA?
On 3 years of weekly data the SPY/TARA correlation comes out at 0.19, weak. Little has changed lately, as the 1-year reading of 0.11 lands near the 3-year figure. The 5-year figure is 0.28, and annualized covariance runs at 249.6 %².
Among the 4755 assets we track against SPY, TARA ranks #3392 by 3-year correlation. Their 12-month results are close: +20.6% for SPY against +23.5% for TARA. Risk is not evenly split, since TARA carries 6.4 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.
SPY vs TARA: side by side
| SPY (SPDR S&P 500 ETF Trust) | TARA (Protara Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +23.5% |
| 5-year return | +82.4% | -49.9% |
| Volatility (ann.) | 14.5% | 93.1% |
| Beta vs S&P 500 | 1.00 | 1.19 |
| Max drawdown (3Y) | -18.8% | -66.5% |
| Market cap | – | $0.2B |
| 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 | TARA |
|---|---|---|
| 2022 | -18.2% | -60.3% |
| 2023 | +26.2% | -30.0% |
| 2024 | +24.9% | +181.6% |
| 2025 | +17.7% | +0.9% |
| 2026 | +13.7% | -25.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TARA good diversifiers for each other?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPY and TARA?
The SPY/TARA correlation stands at 0.19 on a 3-year window (1 year: 0.11, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is TARA a good diversifier for SPY?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
What does a correlation of 0.19 mean?
On the −1 to +1 scale, 0.19 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-tara.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-tara/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · TARA correlations
