AVPT vs SPY: Correlation
Measured on weekly returns over the past three years, AvePoint, Inc. (AVPT) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVPT and SPY?
Over the past 3 years, AVPT and SPY moved with a correlation of 0.41, which is moderate. Recent behaviour matches the longer record: 0.32 over 1 year against 0.41 over 3. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 246.2 %².
By 3-year correlation, SPY places #20 of the 25 assets tracked against AVPT. The last year tells two different stories: SPY led by 30.1 percentage points, -9.5% for AVPT against +20.6% for SPY. Risk is not evenly split, since AVPT carries 2.8 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.
AVPT vs SPY: side by side
| AVPT (AvePoint, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -9.5% | +20.6% |
| 5-year return | +57.7% | +82.4% |
| Volatility (ann.) | 41.3% | 14.5% |
| Beta vs S&P 500 | 1.18 | 1.00 |
| Max drawdown (3Y) | -55.0% | -18.8% |
| Market cap | $3.0B | – |
| P/E (trailing) | 42.1 | – |
| 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 | AVPT | SPY |
|---|---|---|
| 2022 | -34.7% | -18.2% |
| 2023 | +99.8% | +26.2% |
| 2024 | +101.1% | +24.9% |
| 2025 | -15.9% | +17.7% |
| 2026 | +3.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVPT and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AVPT and SPY?
The AVPT/SPY correlation stands at 0.41 on a 3-year window (1 year: 0.32, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for AVPT?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/avpt-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/avpt-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AVPT correlations · SPY correlations
