AVNT vs SPY: Correlation
Avient Corporation (AVNT) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVNT and SPY?
On 3 years of weekly data the AVNT/SPY correlation comes out at 0.52, moderate. The link has loosened recently: the 1-year correlation (0.35) runs below the 3-year figure (0.52). The 5-year figure is 0.59, and annualized covariance runs at 277.6 %².
Among the 35 assets we track against AVNT, SPY ranks #25 by 3-year correlation. Neither side won the trailing year by much: +21.7% against +20.6%. Risk is not evenly split, since AVNT carries 2.5 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.
AVNT vs SPY: side by side
| AVNT (Avient Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +21.7% | +20.6% |
| 5-year return | -3.6% | +82.4% |
| Volatility (ann.) | 36.9% | 14.5% |
| Beta vs S&P 500 | 1.33 | 1.00 |
| Max drawdown (3Y) | -46.9% | -18.8% |
| Market cap | $4.1B | – |
| P/E (trailing) | 23.9 | – |
| Dividend yield | 2.45% | 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 | AVNT | SPY |
|---|---|---|
| 2022 | -38.2% | -18.2% |
| 2023 | +26.4% | +26.2% |
| 2024 | +0.6% | +24.9% |
| 2025 | -21.2% | +17.7% |
| 2026 | +43.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVNT and SPY good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AVNT and SPY?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.35 over the last year and 0.59 over 5 years.
Is SPY a good diversifier for AVNT?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 mean?
A reading of 0.52 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: AVNT correlations · SPY correlations
