SPY vs ZVRA: Correlation
SPDR S&P 500 ETF Trust (SPY) and Zevra Therapeutics, Inc. (ZVRA) show a weak relationship: their 3-year correlation of weekly returns is 0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and ZVRA?
Over the past 3 years, SPY and ZVRA moved with a correlation of 0.23, which is weak. The relationship has been stable: the 1-year correlation (0.23) sits close to the 3-year figure. Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 200.6 %².
By 3-year correlation, ZVRA places #2999 of the 4755 assets tracked against SPY. On 12-month performance ZVRA holds a 6.0-point edge, +20.6% against +26.6%. Risk is not evenly split, since ZVRA carries 4.2 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 ZVRA: side by side
| SPY (SPDR S&P 500 ETF Trust) | ZVRA (Zevra Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +26.6% |
| 5-year return | +82.4% | +33.0% |
| Volatility (ann.) | 14.5% | 61.3% |
| Beta vs S&P 500 | 1.00 | 0.96 |
| Max drawdown (3Y) | -18.8% | -43.5% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | 12.6 |
| 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 | ZVRA |
|---|---|---|
| 2022 | -18.2% | -47.3% |
| 2023 | +26.2% | +42.7% |
| 2024 | +24.9% | +27.3% |
| 2025 | +17.7% | +7.4% |
| 2026 | +13.7% | +32.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and ZVRA good diversifiers for each other?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and ZVRA?
The SPY/ZVRA correlation stands at 0.23 on a 3-year window (1 year: 0.23, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is ZVRA a good diversifier for SPY?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.23 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-zvra.json
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Related comparisons
Hubs: SPY correlations · ZVRA correlations
