SPY vs VNDA: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Vanda Pharmaceuticals Inc. (VNDA) carry a correlation of 0.13, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VNDA?
Over the past 3 years, SPY and VNDA moved with a correlation of 0.13, which is weak. Little has changed lately, as the 1-year reading of 0.03 lands near the 3-year figure. Over 5 years the correlation is 0.15, and the annualized covariance of weekly returns is 115.7 %².
Among the 4755 assets we track against SPY, VNDA ranks #3899 by 3-year correlation. Neither side won the trailing year by much: +20.6% against +17.7%. Risk is not evenly split, since VNDA carries 4.4 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 VNDA: side by side
| SPY (SPDR S&P 500 ETF Trust) | VNDA (Vanda Pharmaceuticals Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +17.7% |
| 5-year return | +82.4% | -67.8% |
| Volatility (ann.) | 14.5% | 63.1% |
| Beta vs S&P 500 | 1.00 | 0.55 |
| Max drawdown (3Y) | -18.8% | -48.4% |
| Market cap | – | $0.3B |
| 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 | VNDA |
|---|---|---|
| 2022 | -18.2% | -52.9% |
| 2023 | +26.2% | -42.9% |
| 2024 | +24.9% | +13.5% |
| 2025 | +17.7% | +84.1% |
| 2026 | +13.7% | -38.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VNDA good diversifiers for each other?
Yes. With a correlation of 0.13, SPY and VNDA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPY and VNDA?
Using weekly returns as of 2026-08-27: 0.13 over 3 years, with 0.03 over the last year and 0.15 over 5 years.
Is VNDA a good diversifier for SPY?
Yes. With a correlation of 0.13, SPY and VNDA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.13 mean?
A reading of 0.13 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-vnda.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-vnda/)
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Related comparisons
Hubs: SPY correlations · VNDA correlations
