APTV vs SPY: Correlation
Measured on weekly returns over the past three years, Aptiv (APTV) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.29, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APTV and SPY?
On 3 years of weekly data the APTV/SPY correlation comes out at 0.29, weak. The past 12 months show a weaker link (0.11) than the 3-year average (0.29). The 5-year figure is 0.48, and annualized covariance runs at 157.9 %².
By 3-year correlation, SPY places #22 of the 33 assets tracked against APTV. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 63.8 percentage points (-43.2% for APTV against +20.6% for SPY). This link changes with the market regime, having swung between 0.12 and 0.67 on a rolling one-year basis. Note the risk asymmetry: APTV runs 2.6 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.
APTV vs SPY: side by side
| APTV (Aptiv) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -43.2% | +20.6% |
| 5-year return | -70.3% | +82.4% |
| Volatility (ann.) | 37.7% | 14.5% |
| Beta vs S&P 500 | 0.76 | 1.00 |
| Max drawdown (3Y) | -56.5% | -18.8% |
| Market cap | $9.4B | – |
| P/E (trailing) | 20.9 | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Consumer Discretionary | 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 | APTV | SPY |
|---|---|---|
| 2022 | -43.5% | -18.2% |
| 2023 | -3.7% | +26.2% |
| 2024 | -32.6% | +24.9% |
| 2025 | +25.8% | +17.7% |
| 2026 | -40.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APTV and SPY good diversifiers for each other?
Reasonably. At 0.29, APTV and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between APTV and SPY?
As of 2026-08-27, the correlation of weekly returns between APTV and SPY is 0.29 over 3 years, 0.11 over 1 year and 0.48 over 5 years.
Is SPY a good diversifier for APTV?
Reasonably. At 0.29, APTV and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.29 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: APTV correlations · SPY correlations
