ALIT vs SPY: Correlation
How closely do Alight, Inc. (ALIT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALIT and SPY?
Across a 3-year window, the weekly returns of ALIT and SPY correlate at 0.33, moderate. Recent behaviour matches the longer record: 0.34 over 1 year against 0.33 over 3. Stretching to 5 years gives 0.39, with an annualized covariance of 310.5 %².
By 3-year correlation, SPY places #7 of the 12 assets tracked against ALIT. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 101.9 percentage points (-81.3% for ALIT against +20.6% for SPY). Note the risk asymmetry: ALIT runs 4.6 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.
ALIT vs SPY: side by side
| ALIT (Alight, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -81.3% | +20.6% |
| 5-year return | -93.1% | +82.4% |
| Volatility (ann.) | 66.0% | 14.5% |
| Beta vs S&P 500 | 1.49 | 1.00 |
| Max drawdown (3Y) | -95.0% | -18.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 11.17% | 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 | ALIT | SPY |
|---|---|---|
| 2022 | -22.7% | -18.2% |
| 2023 | +2.0% | +26.2% |
| 2024 | -18.5% | +24.9% |
| 2025 | -70.6% | +17.7% |
| 2026 | -63.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALIT and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALIT and SPY?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.34 over the last year and 0.39 over 5 years.
Is SPY a good diversifier for ALIT?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alit-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alit-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALIT correlations · SPY correlations
