SPY vs TPST: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Tempest Therapeutics, Inc. (TPST) carry a correlation of 0.04, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TPST?
Over the past 3 years, SPY and TPST moved with a correlation of 0.04, which is near zero, meaning they move largely independently. The past 12 months show a tighter link (0.33) than the 3-year average (0.04). Over 5 years the correlation is 0.05, and the annualized covariance of weekly returns is 411.5 %².
Among the 4755 assets we track against SPY, TPST ranks #4457 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 110.6 points (+20.6% versus -90.0%). Risk is not evenly split, since TPST carries 54.0 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 TPST: side by side
| SPY (SPDR S&P 500 ETF Trust) | TPST (Tempest Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -90.0% |
| 5-year return | +82.4% | -99.4% |
| Volatility (ann.) | 14.5% | 782.8% |
| Beta vs S&P 500 | 1.00 | 1.97 |
| Max drawdown (3Y) | -18.8% | -99.3% |
| Market cap | – | – |
| 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 |
On the fund side, SPY sits in the Large Blend category at State Street Investment Management, with $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | TPST |
|---|---|---|
| 2022 | -18.2% | -78.2% |
| 2023 | +26.2% | +282.6% |
| 2024 | +24.9% | -81.0% |
| 2025 | +17.7% | -73.6% |
| 2026 | +13.7% | -62.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TPST good diversifiers for each other?
Yes. With a correlation of 0.04, SPY and TPST have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPY and TPST?
As of 2026-08-27, the correlation of weekly returns between SPY and TPST is 0.04 over 3 years, 0.33 over 1 year and 0.05 over 5 years.
Is TPST a good diversifier for SPY?
Yes. With a correlation of 0.04, SPY and TPST have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.04 mean?
On the −1 to +1 scale, 0.04 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.
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Related comparisons
Hubs: SPY correlations · TPST correlations
