AXIL vs SPY: Correlation
How closely do AXIL Brands, Inc. (AXIL) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.12, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXIL and SPY?
Across a 3-year window, the weekly returns of AXIL and SPY correlate at 0.12, weak. The past 12 months show a weaker link (0.01) than the 3-year average (0.12). Stretching to 5 years gives n/a, with an annualized covariance of 163.1 %².
Within AXIL's tracked universe of 12 assets, SPY comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 18.3 percentage points (+2.3% for AXIL against +20.6% for SPY). Risk is not evenly split, since AXIL carries 6.5 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.
AXIL vs SPY: side by side
| AXIL (AXIL Brands, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +2.3% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 94.8% | 14.5% |
| Beta vs S&P 500 | 0.78 | 1.00 |
| Max drawdown (3Y) | -74.3% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 18.6 | – |
| 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 | AXIL | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | – | +24.9% |
| 2025 | +79.5% | +17.7% |
| 2026 | -8.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXIL and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.12 means the two rarely move for the same reasons.
FAQ
What is the correlation between AXIL and SPY?
As of 2026-08-27, the correlation of weekly returns between AXIL and SPY is 0.12 over 3 years, 0.01 over 1 year and n/a over 5 years.
Is SPY a good diversifier for AXIL?
By historical standards, yes. A correlation of 0.12 means the two rarely move for the same reasons.
What does a correlation of 0.12 mean?
A reading of 0.12 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/axil-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/axil-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AXIL correlations · SPY correlations
