AERT vs SPY: Correlation
How closely do Aeries Technology, Inc. - Class A (AERT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.10, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AERT and SPY?
Over the past 3 years, AERT and SPY moved with a correlation of 0.10, which is weak. The link has tightened recently: the 1-year correlation (0.25) runs above the 3-year figure (0.10). Over 5 years the correlation is 0.07, and the annualized covariance of weekly returns is 162.5 %².
Among the 10 assets we track against AERT, SPY sits near the bottom by co-movement, at rank #6. On 12-month performance SPY holds a 9.1-point edge, +11.5% against +20.6%. Note the risk asymmetry: AERT runs 7.5 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.
AERT vs SPY: side by side
| AERT (Aeries Technology, Inc. - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +11.5% | +20.6% |
| 5-year return | -91.2% | +82.4% |
| Volatility (ann.) | 108.4% | 14.5% |
| Beta vs S&P 500 | 0.78 | 1.00 |
| Max drawdown (3Y) | -97.4% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 17.2 | – |
| 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 | AERT | SPY |
|---|---|---|
| 2022 | +4.7% | -18.2% |
| 2023 | -75.5% | +26.2% |
| 2024 | -62.8% | +24.9% |
| 2025 | -44.5% | +17.7% |
| 2026 | +66.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AERT and SPY good diversifiers for each other?
Yes: at 0.10, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AERT and SPY?
The AERT/SPY correlation stands at 0.10 on a 3-year window (1 year: 0.25, 5 years: 0.07), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for AERT?
Yes: at 0.10, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.10 mean?
On the −1 to +1 scale, 0.10 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: AERT correlations · SPY correlations
