ZVRA vs. SPY

Last updated Jun 23, 2026

ZVRA (Zevra Therapeutics Inc.) is a stock, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, ZVRA returned -15.28%/yr vs 15.70%/yr for SPY. At a 0.24 correlation, their price movements are largely independent.

Performance

ZVRA vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Zevra Therapeutics Inc. (ZVRA) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZVRA achieves a 41.18% return, which is significantly higher than SPY's 9.74% return. Over the past 10 years, ZVRA has underperformed SPY with an annualized return of -15.28%, while SPY has yielded a comparatively higher 15.70% annualized return.

ZVRA

• 1D: -1.94%
• 1M: 26.12%
• YTD: 41.18%
• 6M: 47.95%
• 1Y: 39.93%
• 3Y*: 31.76%
• 5Y*: -2.42%
• 10Y*: -15.28%

SPY

• 1D: -0.31%
• 1M: 0.09%
• YTD: 9.74%
• 6M: 9.27%
• 1Y: 26.65%
• 3Y*: 21.27%
• 5Y*: 13.51%
• 10Y*: 15.70%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZVRA vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ZVRA Zevra Therapeutics Inc.	41.18%	7.43%	27.33%	42.70%	-47.30%	-22.23%	84.70%	-78.71%	-56.05%	37.29%
SPY State Street SPDR S&P 500 ETF	9.74%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between ZVRA and SPY is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Apr 16, 2015	0.24

The correlation between ZVRA and SPY shifts across timeframes, from 0.20 (1 year) to 0.34 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ZVRA vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZVRA

ZVRA Risk / Return Rank: 62
ZVRA Sharpe Ratio Rank: 63
ZVRA Sortino Ratio Rank: 63
ZVRA Omega Ratio Rank: 62
ZVRA Calmar Ratio Rank: 62
ZVRA Martin Ratio Rank: 59

SPY

SPY Risk / Return Rank: 68
SPY Sharpe Ratio Rank: 69
SPY Sortino Ratio Rank: 66
SPY Omega Ratio Rank: 68
SPY Calmar Ratio Rank: 63
SPY Martin Ratio Rank: 74

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ZVRA vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Zevra Therapeutics Inc. (ZVRA) and State Street SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ZVRA	SPY	Difference
Sharpe ratio: Return per unit of total volatility	0.64	2.16	-1.52
Sortino ratio: Return per unit of downside risk	1.36	2.91	-1.55
Omega ratio: Gain probability vs. loss probability	1.17	1.39	-0.22
Calmar ratio: Return relative to maximum drawdown	0.92	3.01	-2.09
Martin ratio: Return relative to average drawdown	1.61	13.54	-11.93

ZVRA vs. SPY - Sharpe Ratio Comparison

The current ZVRA Sharpe Ratio is 0.64, which is lower than the SPY Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of ZVRA and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ZVRA vs. SPY - Drawdown Comparison

The maximum ZVRA drawdown since its inception was -99.27%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ZVRA and SPY.

Drawdown Indicators

	ZVRA	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-99.27%	-55.19%	-44.08%
Max Drawdown (1Y) Largest decline over 1 year	-43.47%	-8.88%	-34.59%
Max Drawdown (3Y) Largest decline over 3 years	-43.47%	-18.76%	-24.71%
Max Drawdown (5Y) Largest decline over 5 years	-71.83%	-24.50%	-47.33%
Max Drawdown (10Y) Largest decline over 10 years	-97.85%	-33.72%	-64.13%
Current Drawdown Current decline from peak	-96.65%	-1.75%	-94.90%
Average Drawdown Average peak-to-trough decline	-86.42%	-9.04%	-77.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.88%	1.97%	+22.91%

Volatility

ZVRA vs. SPY - Volatility Comparison

Zevra Therapeutics Inc. (ZVRA) has a higher volatility of 22.49% compared to State Street SPDR S&P 500 ETF (SPY) at 4.64%. This indicates that ZVRA's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZVRA	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.49%	4.64%	+17.85%
Volatility (6M) Calculated over the trailing 6-month period	40.26%	9.75%	+30.51%
Volatility (1Y) Calculated over the trailing 1-year period	62.88%	12.43%	+50.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.34%	17.14%	+43.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.09%	17.99%	+63.10%

Dividends

ZVRA vs. SPY - Dividend Comparison

ZVRA has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPY State Street SPDR S&P 500 ETF	1.01%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%
ZVRA Zevra Therapeutics Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZVRA and SPY in my portfolio?

ZVRA and SPY have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ZVRA or SPY?

ZVRA has higher volatility (22.49%) compared to SPY (4.64%). In terms of maximum drawdown, ZVRA dropped -99.27% vs SPY's -55.19%.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.16 vs 0.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.