SPY vs VRCA: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Verrica Pharmaceuticals Inc. (VRCA) trade together? Their weekly returns over three years give a correlation of 0.21, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VRCA?
Across a 3-year window, the weekly returns of SPY and VRCA correlate at 0.21, weak. Lately the two have moved closer together, with the 1-year correlation at 0.37 versus 0.21 over 3 years. Stretching to 5 years gives 0.15, with an annualized covariance of 360.2 %².
Within SPY's tracked universe of 4755 assets, VRCA comes in at #3194 by 3-year correlation. The last year tells two different stories: SPY led by 31.0 percentage points, +20.6% for SPY against -10.4% for VRCA. One caveat on sizing: VRCA is 8.2 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 VRCA: side by side
| SPY (SPDR S&P 500 ETF Trust) | VRCA (Verrica Pharmaceuticals Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -10.4% |
| 5-year return | +82.4% | -95.4% |
| Volatility (ann.) | 14.5% | 119.4% |
| Beta vs S&P 500 | 1.00 | 1.72 |
| Max drawdown (3Y) | -18.8% | -96.6% |
| Market cap | – | $0.1B |
| 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 |
On the fund side, SPY sits in the Large Blend category at State Street Investment Management, with $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | VRCA |
|---|---|---|
| 2022 | -18.2% | -70.0% |
| 2023 | +26.2% | +166.2% |
| 2024 | +24.9% | -90.4% |
| 2025 | +17.7% | +18.7% |
| 2026 | +13.7% | -39.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VRCA good diversifiers for each other?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and VRCA?
Using weekly returns as of 2026-08-27: 0.21 over 3 years, with 0.37 over the last year and 0.15 over 5 years.
Is VRCA a good diversifier for SPY?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.21 mean?
A reading of 0.21 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-vrca.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-vrca/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPY correlations · VRCA correlations
