AVGO vs SPY: Correlation
How closely do Broadcom (AVGO) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.69, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVGO and SPY?
On 3 years of weekly data the AVGO/SPY correlation comes out at 0.69, strong. The relationship has been stable: the 1-year correlation (0.70) sits close to the 3-year figure. The 5-year figure is 0.66, and annualized covariance runs at 512.1 %².
By 3-year correlation, SPY places #11 of the 33 assets tracked against AVGO. Their 12-month results are close: +24.7% for AVGO against +20.6% for SPY. On a rolling one-year basis the correlation drifted between 0.47 and 0.80, a moderate band. Risk is not evenly split, since AVGO carries 3.5 times the volatility of the other side.
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.
AVGO vs SPY: side by side
| AVGO (Broadcom) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +24.7% | +20.6% |
| 5-year return | +718.0% | +82.4% |
| Volatility (ann.) | 51.3% | 14.5% |
| Beta vs S&P 500 | 2.45 | 1.00 |
| Max drawdown (3Y) | -41.1% | -18.8% |
| Market cap | $1,767.6B | – |
| P/E (trailing) | 59.2 | – |
| Dividend yield | 0.71% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Information Technology | 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 | AVGO | SPY |
|---|---|---|
| 2022 | -13.3% | -18.2% |
| 2023 | +104.2% | +26.2% |
| 2024 | +110.5% | +24.9% |
| 2025 | +50.6% | +17.7% |
| 2026 | +7.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that SPY holds AVGO at a 2.55% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are AVGO and SPY good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AVGO and SPY?
The AVGO/SPY correlation stands at 0.69 on a 3-year window (1 year: 0.70, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for AVGO?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 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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Hubs: AVGO correlations · SPY correlations
