AMP vs SPY: Correlation
Ameriprise Financial (AMP) and SPDR S&P 500 ETF Trust (SPY) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMP and SPY?
Over the past 3 years, AMP and SPY moved with a correlation of 0.63, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.32 versus 0.63 over 3 years. Over 5 years the correlation is 0.71, and the annualized covariance of weekly returns is 228.2 %².
Within AMP's tracked universe of 34 assets, SPY comes in at #18 by 3-year correlation. On 12-month performance SPY holds a 11.9-point edge, +8.7% against +20.6%. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.30 to 0.84. One caveat on sizing: AMP is 1.7 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.
AMP vs SPY: side by side
| AMP (Ameriprise Financial) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +8.7% | +20.6% |
| 5-year return | +119.2% | +82.4% |
| Volatility (ann.) | 25.0% | 14.5% |
| Beta vs S&P 500 | 1.09 | 1.00 |
| Max drawdown (3Y) | -26.4% | -18.8% |
| Market cap | $49.1B | – |
| P/E (trailing) | 13.5 | – |
| Dividend yield | 1.16% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Financials | 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 | AMP | SPY |
|---|---|---|
| 2022 | +5.0% | -18.2% |
| 2023 | +24.0% | +26.2% |
| 2024 | +42.1% | +24.9% |
| 2025 | -6.7% | +17.7% |
| 2026 | +14.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
AMP represents 0.08% of SPY's portfolio, so part of any move in SPY is AMP itself, and the correlation between them is partly mechanical.
Are AMP and SPY good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AMP and SPY?
As of 2026-08-27, the correlation of weekly returns between AMP and SPY is 0.63 over 3 years, 0.32 over 1 year and 0.71 over 5 years.
Is SPY a good diversifier for AMP?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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/amp-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amp-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMP correlations · SPY correlations
