SPY vs TRAW: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Traws Pharma, Inc. (TRAW) trade together? Their weekly returns over three years give a correlation of 0.07, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TRAW?
On 3 years of weekly data the SPY/TRAW correlation comes out at 0.07, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.01) sits close to the 3-year figure. The 5-year figure is 0.15, and annualized covariance runs at 140.2 %².
Among the 4755 assets we track against SPY, TRAW ranks #4296 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 79.4 points (+20.6% versus -58.8%). Risk is not evenly split, since TRAW carries 9.5 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 TRAW: side by side
| SPY (SPDR S&P 500 ETF Trust) | TRAW (Traws Pharma, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -58.8% |
| 5-year return | +82.4% | -99.5% |
| Volatility (ann.) | 14.5% | 138.3% |
| Beta vs S&P 500 | 1.00 | 0.67 |
| Max drawdown (3Y) | -18.8% | -98.3% |
| 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 |
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 | TRAW |
|---|---|---|
| 2022 | -18.2% | -74.5% |
| 2023 | +26.2% | +15.4% |
| 2024 | +24.9% | -52.6% |
| 2025 | +17.7% | -87.3% |
| 2026 | +13.7% | -48.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TRAW good diversifiers for each other?
By historical standards, yes. A correlation of 0.07 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPY and TRAW?
The SPY/TRAW correlation stands at 0.07 on a 3-year window (1 year: 0.01, 5 years: 0.15), computed from weekly returns as of 2026-08-27.
Is TRAW a good diversifier for SPY?
By historical standards, yes. A correlation of 0.07 means the two rarely move for the same reasons.
What does a correlation of 0.07 mean?
A reading of 0.07 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: SPY correlations · TRAW correlations
