ADBE vs SPY: Correlation
Adobe Inc. (ADBE) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADBE and SPY?
On 3 years of weekly data the ADBE/SPY correlation comes out at 0.43, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.23 versus 0.43 over 3 years. The 5-year figure is 0.59, and annualized covariance runs at 216.7 %².
Within ADBE's tracked universe of 32 assets, SPY comes in at #20 by 3-year correlation. The last year tells two different stories: SPY led by 39.5 percentage points, -18.9% for ADBE against +20.6% for SPY. The relationship is regime-dependent: the rolling one-year correlation swung between 0.26 and 0.77 over the past three years, so this pair behaves very differently depending on the market environment. One caveat on sizing: ADBE is 2.4 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.
ADBE vs SPY: side by side
| ADBE (Adobe Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -18.9% | +20.6% |
| 5-year return | -56.6% | +82.4% |
| Volatility (ann.) | 35.1% | 14.5% |
| Beta vs S&P 500 | 1.04 | 1.00 |
| Max drawdown (3Y) | -69.5% | -18.8% |
| Market cap | $114.9B | – |
| P/E (trailing) | 15.6 | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Information Technology | 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 | ADBE | SPY |
|---|---|---|
| 2022 | -40.7% | -18.2% |
| 2023 | +77.3% | +26.2% |
| 2024 | -25.5% | +24.9% |
| 2025 | -21.3% | +17.7% |
| 2026 | -17.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that SPY holds ADBE at a 0.17% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are ADBE and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ADBE and SPY?
As of 2026-08-27, the correlation of weekly returns between ADBE and SPY is 0.43 over 3 years, 0.23 over 1 year and 0.59 over 5 years.
Is SPY a good diversifier for ADBE?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 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: ADBE correlations · SPY correlations
