SPY vs UNCY: Correlation
SPDR S&P 500 ETF Trust (SPY) and Unicycive Therapeutics, Inc. (UNCY) show a weak relationship: their 3-year correlation of weekly returns is 0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and UNCY?
Across a 3-year window, the weekly returns of SPY and UNCY correlate at 0.23, weak. Little has changed lately, as the 1-year reading of 0.18 lands near the 3-year figure. Stretching to 5 years gives -0.06, with an annualized covariance of 288.0 %².
Within SPY's tracked universe of 4755 assets, UNCY comes in at #2990 by 3-year correlation. Over the last 12 months UNCY came out ahead by 8.2 percentage points (+20.6% against +28.8%). Risk is not evenly split, since UNCY carries 6.1 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 UNCY: side by side
| SPY (SPDR S&P 500 ETF Trust) | UNCY (Unicycive Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +28.8% |
| 5-year return | +82.4% | -79.6% |
| Volatility (ann.) | 14.5% | 88.4% |
| Beta vs S&P 500 | 1.00 | 1.38 |
| Max drawdown (3Y) | -18.8% | -86.8% |
| Market cap | – | $0.2B |
| 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 | UNCY |
|---|---|---|
| 2022 | -18.2% | -73.8% |
| 2023 | +26.2% | +60.7% |
| 2024 | +24.9% | -8.5% |
| 2025 | +17.7% | -27.3% |
| 2026 | +13.7% | -4.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and UNCY good diversifiers for each other?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and UNCY?
The SPY/UNCY correlation stands at 0.23 on a 3-year window (1 year: 0.18, 5 years: -0.06), computed from weekly returns as of 2026-08-27.
Is UNCY a good diversifier for SPY?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: SPY correlations · UNCY correlations
