SPY vs VERA: Correlation
SPDR S&P 500 ETF Trust (SPY) and Vera Therapeutics, Inc. (VERA) show a weak relationship: their 3-year correlation of weekly returns is 0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VERA?
On 3 years of weekly data the SPY/VERA correlation comes out at 0.24, weak. The relationship has been stable: the 1-year correlation (0.16) sits close to the 3-year figure. The 5-year figure is 0.14, and annualized covariance runs at 307.4 %².
By 3-year correlation, VERA places #2893 of the 4755 assets tracked against SPY. Their recent paths diverged sharply: over the last 12 months VERA outperformed by 36.5 percentage points (+20.6% for SPY against +57.1% for VERA). Risk is not evenly split, since VERA 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 VERA: side by side
| SPY (SPDR S&P 500 ETF Trust) | VERA (Vera Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +57.1% |
| 5-year return | +82.4% | +133.8% |
| Volatility (ann.) | 14.5% | 87.9% |
| Beta vs S&P 500 | 1.00 | 1.47 |
| Max drawdown (3Y) | -18.8% | -62.1% |
| Market cap | – | $2.5B |
| 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 | VERA |
|---|---|---|
| 2022 | -18.2% | -27.6% |
| 2023 | +26.2% | -20.5% |
| 2024 | +24.9% | +175.0% |
| 2025 | +17.7% | +19.7% |
| 2026 | +13.7% | -31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VERA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and VERA?
Using weekly returns as of 2026-08-27: 0.24 over 3 years, with 0.16 over the last year and 0.14 over 5 years.
Is VERA a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.24 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.
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Related comparisons
Hubs: SPY correlations · VERA correlations
