AVT vs SPY: Correlation
Measured on weekly returns over the past three years, Avnet, Inc. (AVT) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVT and SPY?
On 3 years of weekly data the AVT/SPY correlation comes out at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. The 5-year figure is 0.52, and annualized covariance runs at 219.0 %².
Within AVT's tracked universe of 16 assets, SPY comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AVT outperformed by 49.7 percentage points (+70.3% for AVT against +20.6% for SPY). Note the risk asymmetry: AVT runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AVT vs SPY: side by side
| AVT (Avnet, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +70.3% | +20.6% |
| 5-year return | +153.5% | +82.4% |
| Volatility (ann.) | 28.1% | 14.5% |
| Beta vs S&P 500 | 1.05 | 1.00 |
| Max drawdown (3Y) | -27.1% | -18.8% |
| Market cap | $7.5B | – |
| P/E (trailing) | 22.5 | – |
| Dividend yield | 1.55% | 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 | AVT | SPY |
|---|---|---|
| 2022 | +3.4% | -18.2% |
| 2023 | +24.4% | +26.2% |
| 2024 | +6.4% | +24.9% |
| 2025 | -5.6% | +17.7% |
| 2026 | +92.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVT and SPY good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AVT and SPY?
As of 2026-08-27, the correlation of weekly returns between AVT and SPY is 0.54 over 3 years, 0.46 over 1 year and 0.52 over 5 years.
Is SPY a good diversifier for AVT?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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.
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Related comparisons
Hubs: AVT correlations · SPY correlations
