ABT vs SPY: Correlation
Abbott Laboratories (ABT) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.11.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABT and SPY?
On 3 years of weekly data the ABT/SPY correlation comes out at 0.11, weak. Lately the two have drifted apart, with the 1-year correlation at -0.20 versus 0.11 over 3 years. The 5-year figure is 0.34, and annualized covariance runs at 34.1 %².
Within ABT's tracked universe of 29 assets, SPY comes in at #16 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 33.8 percentage points (-13.2% for ABT against +20.6% for SPY). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.18 to 0.53. One caveat on sizing: ABT is 1.5 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.
ABT vs SPY: side by side
| ABT (Abbott Laboratories) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -13.2% | +20.6% |
| 5-year return | -2.3% | +82.4% |
| Volatility (ann.) | 22.0% | 14.5% |
| Beta vs S&P 500 | 0.16 | 1.00 |
| Max drawdown (3Y) | -39.6% | -18.8% |
| Market cap | $193.1B | – |
| P/E (trailing) | 37.0 | – |
| Dividend yield | 2.17% | 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 | ABT | SPY |
|---|---|---|
| 2022 | -20.7% | -18.2% |
| 2023 | +2.3% | +26.2% |
| 2024 | +4.8% | +24.9% |
| 2025 | +12.9% | +17.7% |
| 2026 | -9.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.3% of SPY is ABT itself, so the fund partly moves with the stock by construction.
Are ABT and SPY good diversifiers for each other?
Yes. With a correlation of 0.11, ABT and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ABT and SPY?
Using weekly returns as of 2026-08-27: 0.11 over 3 years, with -0.20 over the last year and 0.34 over 5 years.
Is SPY a good diversifier for ABT?
Yes. With a correlation of 0.11, ABT and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.11 mean?
A reading of 0.11 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: ABT correlations · SPY correlations
