SPY vs TRVI: Correlation
SPDR S&P 500 ETF Trust (SPY) and Trevi Therapeutics, Inc. (TRVI) show a weak relationship: their 3-year correlation of weekly returns is 0.10.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TRVI?
On 3 years of weekly data the SPY/TRVI correlation comes out at 0.10, weak. The past 12 months show a tighter link (0.39) than the 3-year average (0.10). The 5-year figure is 0.14, and annualized covariance runs at 113.9 %².
By 3-year correlation, TRVI places #4118 of the 4755 assets tracked against SPY. Their recent paths diverged sharply: over the last 12 months TRVI outperformed by 103.9 percentage points (+20.6% for SPY against +124.5% for TRVI). Note the risk asymmetry: TRVI runs 5.6 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 TRVI: side by side
| SPY (SPDR S&P 500 ETF Trust) | TRVI (Trevi Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +124.5% |
| 5-year return | +82.4% | +1008.6% |
| Volatility (ann.) | 14.5% | 81.1% |
| Beta vs S&P 500 | 1.00 | 0.55 |
| Max drawdown (3Y) | -18.8% | -54.7% |
| Market cap | – | $2.6B |
| 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 is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | TRVI |
|---|---|---|
| 2022 | -18.2% | +146.8% |
| 2023 | +26.2% | -30.6% |
| 2024 | +24.9% | +207.5% |
| 2025 | +17.7% | +203.9% |
| 2026 | +13.7% | +43.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TRVI good diversifiers for each other?
Yes: at 0.10, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SPY and TRVI?
The SPY/TRVI correlation stands at 0.10 on a 3-year window (1 year: 0.39, 5 years: 0.14), computed from weekly returns as of 2026-08-27.
Is TRVI a good diversifier for SPY?
Yes: at 0.10, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.10 mean?
On the −1 to +1 scale, 0.10 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-trvi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-trvi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · TRVI correlations
