FIS vs SPY: Correlation
Fidelity National Information Services (FIS) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIS and SPY?
Across a 3-year window, the weekly returns of FIS and SPY correlate at 0.30, moderate. Recent behaviour matches the longer record: 0.24 over 1 year against 0.30 over 3. Stretching to 5 years gives 0.43, with an annualized covariance of 118.8 %².
By 3-year correlation, SPY places #22 of the 33 assets tracked against FIS. Correlation aside, the last 12 months split them widely, with SPY ahead by 60.6 points (-40.0% versus +20.6%). The rolling one-year correlation moved between 0.16 and 0.59 over the past three years, a moderate range. One caveat on sizing: FIS is 1.9 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.
FIS vs SPY: side by side
| FIS (Fidelity National Information Services) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -40.0% | +20.6% |
| 5-year return | -63.9% | +82.4% |
| Volatility (ann.) | 27.2% | 14.5% |
| Beta vs S&P 500 | 0.57 | 1.00 |
| Max drawdown (3Y) | -56.5% | -18.8% |
| Market cap | $20.9B | – |
| P/E (trailing) | 6.2 | – |
| Dividend yield | 4.13% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Financials | 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 | FIS | SPY |
|---|---|---|
| 2022 | -36.5% | -18.2% |
| 2023 | -8.2% | +26.2% |
| 2024 | +37.0% | +24.9% |
| 2025 | -15.8% | +17.7% |
| 2026 | -37.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIS and SPY good diversifiers for each other?
Reasonably. At 0.30, FIS and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FIS and SPY?
The FIS/SPY correlation stands at 0.30 on a 3-year window (1 year: 0.24, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for FIS?
Reasonably. At 0.30, FIS and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio 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: FIS correlations · SPY correlations
