SPY vs TNGX: Correlation
SPDR S&P 500 ETF Trust (SPY) and Tango Therapeutics, Inc. (TNGX) show a weak relationship: their 3-year correlation of weekly returns is 0.13.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TNGX?
Over the past 3 years, SPY and TNGX moved with a correlation of 0.13, which is weak. Recent behaviour matches the longer record: 0.06 over 1 year against 0.13 over 3. Over 5 years the correlation is 0.16, and the annualized covariance of weekly returns is 211.8 %².
Among the 4755 assets we track against SPY, TNGX ranks #3894 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TNGX ahead by 245.8 points (+20.6% versus +266.4%). Note the risk asymmetry: TNGX runs 7.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TNGX: side by side
| SPY (SPDR S&P 500 ETF Trust) | TNGX (Tango Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +266.4% |
| 5-year return | +82.4% | +112.1% |
| Volatility (ann.) | 14.5% | 109.5% |
| Beta vs S&P 500 | 1.00 | 1.01 |
| Max drawdown (3Y) | -18.8% | -91.5% |
| Market cap | – | $4.3B |
| 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 | TNGX |
|---|---|---|
| 2022 | -18.2% | -33.7% |
| 2023 | +26.2% | +36.6% |
| 2024 | +24.9% | -68.8% |
| 2025 | +17.7% | +186.7% |
| 2026 | +13.7% | +185.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TNGX good diversifiers for each other?
Yes: at 0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SPY and TNGX?
Using weekly returns as of 2026-08-27: 0.13 over 3 years, with 0.06 over the last year and 0.16 over 5 years.
Is TNGX a good diversifier for SPY?
Yes: at 0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.13 mean?
On the −1 to +1 scale, 0.13 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-tngx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-tngx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPY correlations · TNGX correlations
