SPY vs VRDN: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Viridian Therapeutics, Inc. (VRDN) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VRDN?
Over the past 3 years, SPY and VRDN moved with a correlation of 0.27, which is weak. Lately the two have drifted apart, with the 1-year correlation at 0.00 versus 0.27 over 3 years. Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 264.5 %².
Among the 4755 assets we track against SPY, VRDN ranks #2587 by 3-year correlation. Over the last 12 months VRDN came out ahead by 8.1 percentage points (+20.6% against +28.7%). Note the risk asymmetry: VRDN runs 4.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 VRDN: side by side
| SPY (SPDR S&P 500 ETF Trust) | VRDN (Viridian Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +28.7% |
| 5-year return | +82.4% | +80.0% |
| Volatility (ann.) | 14.5% | 66.8% |
| Beta vs S&P 500 | 1.00 | 1.27 |
| Max drawdown (3Y) | -18.8% | -60.6% |
| Market cap | – | $2.7B |
| 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 | VRDN |
|---|---|---|
| 2022 | -18.2% | +47.7% |
| 2023 | +26.2% | -25.4% |
| 2024 | +24.9% | -12.0% |
| 2025 | +17.7% | +62.3% |
| 2026 | +13.7% | -23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VRDN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and VRDN?
As of 2026-08-27, the correlation of weekly returns between SPY and VRDN is 0.27 over 3 years, 0.00 over 1 year and 0.20 over 5 years.
Is VRDN a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 mean?
A reading of 0.27 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-vrdn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-vrdn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · VRDN correlations
