EBAY vs SPY: Correlation
Measured on weekly returns over the past three years, eBay Inc. (EBAY) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.29, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EBAY and SPY?
On 3 years of weekly data the EBAY/SPY correlation comes out at 0.29, weak. Little has changed lately, as the 1-year reading of 0.34 lands near the 3-year figure. The 5-year figure is 0.53, and annualized covariance runs at 120.6 %².
By 3-year correlation, SPY places #17 of the 33 assets tracked against EBAY. Over the last 12 months SPY came out ahead by 10.0 percentage points (+10.6% against +20.6%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.16 to 0.77. One caveat on sizing: EBAY is 2.0 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.
EBAY vs SPY: side by side
| EBAY (eBay Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +10.6% | +20.6% |
| 5-year return | +43.9% | +82.4% |
| Volatility (ann.) | 28.9% | 14.5% |
| Beta vs S&P 500 | 0.58 | 1.00 |
| Max drawdown (3Y) | -20.7% | -18.8% |
| Market cap | $45.5B | – |
| P/E (trailing) | 21.9 | – |
| Dividend yield | 1.15% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Consumer Discretionary | 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 | EBAY | SPY |
|---|---|---|
| 2022 | -36.5% | -18.2% |
| 2023 | +7.7% | +26.2% |
| 2024 | +44.8% | +24.9% |
| 2025 | +42.7% | +17.7% |
| 2026 | +18.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.07% of SPY is EBAY itself, so the fund partly moves with the stock by construction.
Are EBAY and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EBAY and SPY?
As of 2026-08-27, the correlation of weekly returns between EBAY and SPY is 0.29 over 3 years, 0.34 over 1 year and 0.53 over 5 years.
Is SPY a good diversifier for EBAY?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.29 mean?
On the −1 to +1 scale, 0.29 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: EBAY correlations · SPY correlations
