SPYV vs TCRT: Correlation
Measured on weekly returns over the past three years, SPDR Portfolio S&P 500 Value ETF (SPYV) and Alaunos Therapeutics, Inc. (TCRT) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPYV and TCRT?
On 3 years of weekly data the SPYV/TCRT correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.14 over 1 year against -0.18 over 3. The 5-year figure is -0.02, and annualized covariance runs at -261.2 %².
Among the 148 assets we track against SPYV, TCRT sits near the bottom by co-movement, at rank #145. Correlation aside, the last 12 months split them widely, with SPYV ahead by 30.7 points (+18.5% versus -12.2%). Note the risk asymmetry: TCRT runs 10.1 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.
SPYV vs TCRT: side by side
| SPYV (SPDR Portfolio S&P 500 Value ETF) | TCRT (Alaunos Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +18.5% | -12.2% |
| 5-year return | +73.5% | -99.3% |
| Volatility (ann.) | 12.1% | 121.9% |
| Beta vs S&P 500 | 0.70 | -1.11 |
| Max drawdown (3Y) | -17.5% | -95.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.69% | 0.00% |
| Expense ratio | 0.04% | – |
| Assets under management | $36.2B | – |
| Sector / category | ETF · US Style | US Listed |
On the fund side, SPYV sits in the Large Value category at State Street Investment Management, with $36.2B under management, 438 holdings, a 0.04% expense ratio, a 1.69% trailing dividend yield.
Year-by-year returns
| Year | SPYV | TCRT |
|---|---|---|
| 2022 | -5.3% | -40.4% |
| 2023 | +22.2% | -89.2% |
| 2024 | +12.2% | -81.8% |
| 2025 | +13.2% | +69.1% |
| 2026 | +12.7% | -48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPYV and TCRT good diversifiers for each other?
Yes. With a correlation of -0.18, SPYV and TCRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPYV and TCRT?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.14 over the last year and -0.02 over 5 years.
Is TCRT a good diversifier for SPYV?
Yes. With a correlation of -0.18, SPYV and TCRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spyv-vs-tcrt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spyv-vs-tcrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPYV correlations · TCRT correlations
