SPY vs XRTX: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and XORTX Therapeutics Inc. (XRTX) trade together? Their weekly returns over three years give a correlation of 0.03, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and XRTX?
On 3 years of weekly data the SPY/XRTX correlation comes out at 0.03, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.09) sits close to the 3-year figure. The 5-year figure is 0.08, and annualized covariance runs at 48.3 %².
Within SPY's tracked universe of 4755 assets, XRTX comes in at #4506 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 59.0 percentage points (+20.6% for SPY against -38.4% for XRTX). Note the risk asymmetry: XRTX runs 8.9 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 XRTX: side by side
| SPY (SPDR S&P 500 ETF Trust) | XRTX (XORTX Therapeutics Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -38.4% |
| 5-year return | +82.4% | -99.9% |
| Volatility (ann.) | 14.5% | 129.2% |
| Beta vs S&P 500 | 1.00 | 0.23 |
| Max drawdown (3Y) | -18.8% | -99.4% |
| Market cap | – | – |
| 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 | XRTX |
|---|---|---|
| 2022 | -18.2% | -60.6% |
| 2023 | +26.2% | -96.5% |
| 2024 | +24.9% | -51.1% |
| 2025 | +17.7% | -50.3% |
| 2026 | +13.7% | -13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and XRTX good diversifiers for each other?
By historical standards, yes. A correlation of 0.03 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPY and XRTX?
As of 2026-08-27, the correlation of weekly returns between SPY and XRTX is 0.03 over 3 years, 0.09 over 1 year and 0.08 over 5 years.
Is XRTX a good diversifier for SPY?
By historical standards, yes. A correlation of 0.03 means the two rarely move for the same reasons.
What does a correlation of 0.03 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-xrtx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-xrtx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · XRTX correlations
