AUNA vs SPY: Correlation
Measured on weekly returns over the past three years, Auna SA Class A (AUNA) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.19, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AUNA and SPY?
On 3 years of weekly data the AUNA/SPY correlation comes out at 0.19, weak. The link has loosened recently: the 1-year correlation (-0.02) runs below the 3-year figure (0.19). The 5-year figure is n/a, and annualized covariance runs at 152.8 %².
Within AUNA's tracked universe of 16 assets, SPY comes in at #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 39.4 percentage points (-18.8% for AUNA against +20.6% for SPY). One caveat on sizing: AUNA is 3.7 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.
AUNA vs SPY: side by side
| AUNA (Auna SA Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -18.8% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 53.1% | 14.5% |
| Beta vs S&P 500 | 0.73 | 1.00 |
| Max drawdown (3Y) | -61.1% | -18.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 85.2 | – |
| 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 | AUNA | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | – | +24.9% |
| 2025 | -28.3% | +17.7% |
| 2026 | +3.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AUNA and SPY good diversifiers for each other?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AUNA and SPY?
Using weekly returns as of 2026-08-27: 0.19 over 3 years, with -0.02 over the last year and n/a over 5 years.
Is SPY a good diversifier for AUNA?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.19 mean?
A reading of 0.19 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AUNA correlations · SPY correlations
