SPY vs VBIO: Correlation
SPDR S&P 500 ETF Trust (SPY) and Valion Bio, Inc. (VBIO) show a weak relationship: their 3-year correlation of weekly returns is 0.12.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VBIO?
On 3 years of weekly data the SPY/VBIO correlation comes out at 0.12, weak. The link has tightened recently: the 1-year correlation (0.23) runs above the 3-year figure (0.12). The 5-year figure is 0.06, and annualized covariance runs at 265.2 %².
Among the 4755 assets we track against SPY, VBIO ranks #3972 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 116.6 points (+20.6% versus -96.0%). Risk is not evenly split, since VBIO carries 10.2 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 VBIO: side by side
| SPY (SPDR S&P 500 ETF Trust) | VBIO (Valion Bio, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -96.0% |
| 5-year return | +82.4% | -100.0% |
| Volatility (ann.) | 14.5% | 147.8% |
| Beta vs S&P 500 | 1.00 | 1.27 |
| Max drawdown (3Y) | -18.8% | -99.8% |
| 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 | VBIO |
|---|---|---|
| 2022 | -18.2% | -83.5% |
| 2023 | +26.2% | -97.2% |
| 2024 | +24.9% | -80.8% |
| 2025 | +17.7% | -75.3% |
| 2026 | +13.7% | -91.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VBIO good diversifiers for each other?
Yes. With a correlation of 0.12, SPY and VBIO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPY and VBIO?
Using weekly returns as of 2026-08-27: 0.12 over 3 years, with 0.23 over the last year and 0.06 over 5 years.
Is VBIO a good diversifier for SPY?
Yes. With a correlation of 0.12, SPY and VBIO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.12 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
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-vbio.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-vbio/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPY correlations · VBIO correlations
