AEI vs SPY: Correlation
How closely do Alset Inc. (AEI) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.24, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEI and SPY?
On 3 years of weekly data the AEI/SPY correlation comes out at 0.24, weak. The relationship has been stable: the 1-year correlation (0.26) sits close to the 3-year figure. The 5-year figure is 0.22, and annualized covariance runs at 374.3 %².
Out of 14 assets tracked against AEI, SPY lands near the bottom at #11. The last year tells two different stories: SPY led by 19.2 percentage points, +1.4% for AEI against +20.6% for SPY. Note the risk asymmetry: AEI runs 7.3 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.
AEI vs SPY: side by side
| AEI (Alset Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +1.4% | +20.6% |
| 5-year return | -96.4% | +82.4% |
| Volatility (ann.) | 106.1% | 14.5% |
| Beta vs S&P 500 | 1.79 | 1.00 |
| Max drawdown (3Y) | -76.1% | -18.8% |
| Market cap | $0.1B | – |
| 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 | AEI | SPY |
|---|---|---|
| 2022 | -79.4% | -18.2% |
| 2023 | -55.2% | +26.2% |
| 2024 | -1.0% | +24.9% |
| 2025 | +237.3% | +17.7% |
| 2026 | -57.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEI and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AEI and SPY?
The AEI/SPY correlation stands at 0.24 on a 3-year window (1 year: 0.26, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for AEI?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.24 mean?
A reading of 0.24 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: AEI correlations · SPY correlations
