ABNB vs SPY: Correlation
Measured on weekly returns over the past three years, Airbnb (ABNB) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABNB and SPY?
Over the past 3 years, ABNB and SPY moved with a correlation of 0.52, which is moderate. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 266.8 %².
Within ABNB's tracked universe of 32 assets, SPY comes in at #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ABNB ahead by 21.4 points (+42.0% versus +20.6%). The rolling one-year correlation moved between 0.31 and 0.72 over the past three years, a moderate range. Risk is not evenly split, since ABNB carries 2.4 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.
ABNB vs SPY: side by side
| ABNB (Airbnb) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +42.0% | +20.6% |
| 5-year return | +18.2% | +82.4% |
| Volatility (ann.) | 35.2% | 14.5% |
| Beta vs S&P 500 | 1.28 | 1.00 |
| Max drawdown (3Y) | -37.2% | -18.8% |
| Market cap | $110.4B | – |
| P/E (trailing) | 42.9 | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Consumer Discretionary | 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 | ABNB | SPY |
|---|---|---|
| 2022 | -48.6% | -18.2% |
| 2023 | +59.2% | +26.2% |
| 2024 | -3.5% | +24.9% |
| 2025 | +3.3% | +17.7% |
| 2026 | +35.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
ABNB represents 0.12% of SPY's portfolio, so part of any move in SPY is ABNB itself, and the correlation between them is partly mechanical.
Are ABNB and SPY good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ABNB and SPY?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.52 over the last year and 0.58 over 5 years.
Is SPY a good diversifier for ABNB?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
A reading of 0.52 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: ABNB correlations · SPY correlations
