SPY vs WGS: Correlation
SPDR S&P 500 ETF Trust (SPY) and GeneDx Holdings Corp. (WGS) show a weak relationship: their 3-year correlation of weekly returns is 0.14.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and WGS?
Over the past 3 years, SPY and WGS moved with a correlation of 0.14, which is weak. Little has changed lately, as the 1-year reading of 0.11 lands near the 3-year figure. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 236.4 %².
Within SPY's tracked universe of 4755 assets, WGS comes in at #3824 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 51.5 percentage points (+20.6% for SPY against -30.9% for WGS). Note the risk asymmetry: WGS runs 7.8 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 WGS: side by side
| SPY (SPDR S&P 500 ETF Trust) | WGS (GeneDx Holdings Corp.) | |
|---|---|---|
| 1-year return | +20.6% | -30.9% |
| 5-year return | +82.4% | -69.2% |
| Volatility (ann.) | 14.5% | 113.8% |
| Beta vs S&P 500 | 1.00 | 1.13 |
| Max drawdown (3Y) | -18.8% | -79.4% |
| 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, 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 | WGS |
|---|---|---|
| 2022 | -18.2% | -94.1% |
| 2023 | +26.2% | -68.4% |
| 2024 | +24.9% | +2694.9% |
| 2025 | +17.7% | +69.2% |
| 2026 | +13.7% | -31.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and WGS good diversifiers for each other?
Yes. With a correlation of 0.14, SPY and WGS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPY and WGS?
Using weekly returns as of 2026-08-27: 0.14 over 3 years, with 0.11 over the last year and 0.28 over 5 years.
Is WGS a good diversifier for SPY?
Yes. With a correlation of 0.14, SPY and WGS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.14 mean?
A reading of 0.14 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-wgs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-wgs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · WGS correlations
