SPY vs TXMD: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and TherapeuticsMD, Inc. (TXMD) trade together? Their weekly returns over three years give a correlation of 0.26, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TXMD?
Across a 3-year window, the weekly returns of SPY and TXMD correlate at 0.26, weak. Lately the two have drifted apart, with the 1-year correlation at 0.03 versus 0.26 over 3 years. Stretching to 5 years gives 0.06, with an annualized covariance of 271.2 %².
Among the 4755 assets we track against SPY, TXMD ranks #2677 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TXMD ahead by 77.6 points (+20.6% versus +98.2%). One caveat on sizing: TXMD is 5.0 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 TXMD: side by side
| SPY (SPDR S&P 500 ETF Trust) | TXMD (TherapeuticsMD, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +98.2% |
| 5-year return | +82.4% | -94.4% |
| Volatility (ann.) | 14.5% | 73.0% |
| Beta vs S&P 500 | 1.00 | 1.30 |
| Max drawdown (3Y) | -18.8% | -81.2% |
| 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 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 | TXMD |
|---|---|---|
| 2022 | -18.2% | -68.9% |
| 2023 | +26.2% | -59.7% |
| 2024 | +24.9% | -61.8% |
| 2025 | +17.7% | +89.5% |
| 2026 | +13.7% | +36.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TXMD good diversifiers for each other?
Reasonably. At 0.26, SPY and TXMD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and TXMD?
The SPY/TXMD correlation stands at 0.26 on a 3-year window (1 year: 0.03, 5 years: 0.06), computed from weekly returns as of 2026-08-27.
Is TXMD a good diversifier for SPY?
Reasonably. At 0.26, SPY and TXMD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 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-txmd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-txmd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPY correlations · TXMD correlations
