EPAM vs SPY: Correlation
How closely do EPAM Systems, Inc. (EPAM) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EPAM and SPY?
Over the past 3 years, EPAM and SPY moved with a correlation of 0.30, which is moderate. The past 12 months show a weaker link (-0.01) than the 3-year average (0.30). Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 203.8 %².
Out of 16 assets tracked against EPAM, SPY lands near the bottom at #12. Correlation aside, the last 12 months split them widely, with SPY ahead by 55.6 points (-35.0% versus +20.6%). One caveat on sizing: EPAM is 3.2 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.
EPAM vs SPY: side by side
| EPAM (EPAM Systems, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -35.0% | +20.6% |
| 5-year return | -82.3% | +82.4% |
| Volatility (ann.) | 47.0% | 14.5% |
| Beta vs S&P 500 | 0.98 | 1.00 |
| Max drawdown (3Y) | -75.8% | -18.8% |
| Market cap | $5.8B | – |
| P/E (trailing) | 14.8 | – |
| 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 | EPAM | SPY |
|---|---|---|
| 2022 | -51.0% | -18.2% |
| 2023 | -9.3% | +26.2% |
| 2024 | -21.4% | +24.9% |
| 2025 | -12.4% | +17.7% |
| 2026 | -45.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EPAM and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EPAM and SPY?
As of 2026-08-27, the correlation of weekly returns between EPAM and SPY is 0.30 over 3 years, -0.01 over 1 year and 0.43 over 5 years.
Is SPY a good diversifier for EPAM?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 mean?
A reading of 0.30 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: EPAM correlations · SPY correlations
