ABBV vs SPY: Correlation
AbbVie (ABBV) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.05.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABBV and SPY?
Across a 3-year window, the weekly returns of ABBV and SPY correlate at 0.05, near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.27 versus 0.05 over 3 years. Stretching to 5 years gives 0.19, with an annualized covariance of 17.2 %².
Among the 34 assets we track against ABBV, SPY ranks #21 by 3-year correlation. On 12-month performance ABBV holds a 7.3-point edge, +27.9% against +20.6%. This link changes with the market regime, having swung between -0.24 and 0.32 on a rolling one-year basis. One caveat on sizing: ABBV is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ABBV vs SPY: side by side
| ABBV (AbbVie) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +27.9% | +20.6% |
| 5-year return | +157.2% | +82.4% |
| Volatility (ann.) | 26.4% | 14.5% |
| Beta vs S&P 500 | 0.08 | 1.00 |
| Max drawdown (3Y) | -20.7% | -18.8% |
| Market cap | $456.2B | – |
| P/E (trailing) | 74.0 | – |
| Dividend yield | 2.60% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Health Care | ETF · US Large Cap |
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 | ABBV | SPY |
|---|---|---|
| 2022 | +24.0% | -18.2% |
| 2023 | -0.2% | +26.2% |
| 2024 | +18.9% | +24.9% |
| 2025 | +33.1% | +17.7% |
| 2026 | +15.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
ABBV represents 0.7% of SPY's portfolio, so part of any move in SPY is ABBV itself, and the correlation between them is partly mechanical.
Are ABBV and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.05 means the two rarely move for the same reasons.
FAQ
What is the correlation between ABBV and SPY?
Using weekly returns as of 2026-08-27: 0.05 over 3 years, with -0.27 over the last year and 0.19 over 5 years.
Is SPY a good diversifier for ABBV?
By historical standards, yes. A correlation of 0.05 means the two rarely move for the same reasons.
What does a correlation of 0.05 mean?
A reading of 0.05 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ABBV correlations · SPY correlations
