SPY vs TGTX: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and TG Therapeutics, Inc. (TGTX) trade together? Their weekly returns over three years give a correlation of 0.23, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TGTX?
On 3 years of weekly data the SPY/TGTX correlation comes out at 0.23, weak. The link has loosened recently: the 1-year correlation (0.09) runs below the 3-year figure (0.23). The 5-year figure is 0.32, and annualized covariance runs at 228.5 %².
By 3-year correlation, TGTX places #2982 of the 4755 assets tracked against SPY. The last year tells two different stories: TGTX led by 74.4 percentage points, +20.6% for SPY against +95.0% for TGTX. One caveat on sizing: TGTX is 4.7 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 TGTX: side by side
| SPY (SPDR S&P 500 ETF Trust) | TGTX (TG Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +95.0% |
| 5-year return | +82.4% | +108.6% |
| Volatility (ann.) | 14.5% | 68.7% |
| Beta vs S&P 500 | 1.00 | 1.09 |
| Max drawdown (3Y) | -18.8% | -42.0% |
| Market cap | – | $8.5B |
| P/E (trailing) | – | 20.1 |
| 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 | TGTX |
|---|---|---|
| 2022 | -18.2% | -37.7% |
| 2023 | +26.2% | +44.4% |
| 2024 | +24.9% | +76.2% |
| 2025 | +17.7% | -1.0% |
| 2026 | +13.7% | +86.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TGTX good diversifiers for each other?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and TGTX?
Using weekly returns as of 2026-08-27: 0.23 over 3 years, with 0.09 over the last year and 0.32 over 5 years.
Is TGTX a good diversifier for SPY?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.23 mean?
A reading of 0.23 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: SPY correlations · TGTX correlations
