ATER vs SPY: Correlation
Measured on weekly returns over the past three years, Aterian, Inc. (ATER) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.25, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATER and SPY?
Across a 3-year window, the weekly returns of ATER and SPY correlate at 0.25, weak. The relationship has been stable: the 1-year correlation (0.35) sits close to the 3-year figure. Stretching to 5 years gives 0.23, with an annualized covariance of 329.6 %².
Among the 10 assets we track against ATER, SPY sits near the bottom by co-movement, at rank #7. The last year tells two different stories: SPY led by 81.8 percentage points, -61.2% for ATER against +20.6% for SPY. One caveat on sizing: ATER is 6.2 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.
ATER vs SPY: side by side
| ATER (Aterian, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -61.2% | +20.6% |
| 5-year return | -99.5% | +82.4% |
| Volatility (ann.) | 90.5% | 14.5% |
| Beta vs S&P 500 | 1.58 | 1.00 |
| Max drawdown (3Y) | -94.0% | -18.8% |
| Market cap | – | – |
| 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 | ATER | SPY |
|---|---|---|
| 2022 | -81.3% | -18.2% |
| 2023 | -54.7% | +26.2% |
| 2024 | -42.7% | +24.9% |
| 2025 | -71.0% | +17.7% |
| 2026 | -43.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATER and SPY good diversifiers for each other?
Reasonably. At 0.25, ATER and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ATER and SPY?
Using weekly returns as of 2026-08-27: 0.25 over 3 years, with 0.35 over the last year and 0.23 over 5 years.
Is SPY a good diversifier for ATER?
Reasonably. At 0.25, ATER and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.25 mean?
A reading of 0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ater-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ater-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ATER correlations · SPY correlations
