ADSE vs SPY: Correlation
ADS-TEC ENERGY PLC (ADSE) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.10.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADSE and SPY?
Across a 3-year window, the weekly returns of ADSE and SPY correlate at 0.10, weak. The relationship has been stable: the 1-year correlation (0.07) sits close to the 3-year figure. Stretching to 5 years gives 0.13, with an annualized covariance of 73.5 %².
By 3-year correlation, SPY places #6 of the 11 assets tracked against ADSE. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 28.7 percentage points (-8.1% for ADSE against +20.6% for SPY). Note the risk asymmetry: ADSE runs 3.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ADSE vs SPY: side by side
| ADSE (ADS-TEC ENERGY PLC) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -8.1% | +20.6% |
| 5-year return | +14.5% | +82.4% |
| Volatility (ann.) | 49.2% | 14.5% |
| Beta vs S&P 500 | 0.35 | 1.00 |
| Max drawdown (3Y) | -48.1% | -18.8% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | 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 | ADSE | SPY |
|---|---|---|
| 2022 | -65.8% | -18.2% |
| 2023 | +129.2% | +26.2% |
| 2024 | +116.9% | +24.9% |
| 2025 | -18.2% | +17.7% |
| 2026 | -10.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADSE and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
FAQ
What is the correlation between ADSE and SPY?
Using weekly returns as of 2026-08-27: 0.10 over 3 years, with 0.07 over the last year and 0.13 over 5 years.
Is SPY a good diversifier for ADSE?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
What does a correlation of 0.10 mean?
A reading of 0.10 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/adse-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/adse-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ADSE correlations · SPY correlations
