COUR vs SPY: Correlation
Measured on weekly returns over the past three years, Coursera, Inc. (COUR) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COUR and SPY?
On 3 years of weekly data the COUR/SPY correlation comes out at 0.28, weak. The relationship has been stable: the 1-year correlation (0.21) sits close to the 3-year figure. The 5-year figure is 0.36, and annualized covariance runs at 239.1 %².
Out of 14 assets tracked against COUR, SPY lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with SPY ahead by 64.1 points (-43.5% versus +20.6%). One caveat on sizing: COUR is 4.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
COUR vs SPY: side by side
| COUR (Coursera, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -43.5% | +20.6% |
| 5-year return | -83.3% | +82.4% |
| Volatility (ann.) | 58.8% | 14.5% |
| Beta vs S&P 500 | 1.14 | 1.00 |
| Max drawdown (3Y) | -75.8% | -18.8% |
| Market cap | $1.8B | – |
| P/E (trailing) | – | – |
| 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 | COUR | SPY |
|---|---|---|
| 2022 | -51.6% | -18.2% |
| 2023 | +63.7% | +26.2% |
| 2024 | -56.1% | +24.9% |
| 2025 | -13.4% | +17.7% |
| 2026 | -13.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COUR and SPY good diversifiers for each other?
Reasonably. At 0.28, COUR and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between COUR and SPY?
As of 2026-08-27, the correlation of weekly returns between COUR and SPY is 0.28 over 3 years, 0.21 over 1 year and 0.36 over 5 years.
Is SPY a good diversifier for COUR?
Reasonably. At 0.28, COUR and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
A reading of 0.28 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: COUR correlations · SPY correlations
