FISV vs SPY: Correlation
Fiserv (FISV) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FISV and SPY?
Across a 3-year window, the weekly returns of FISV and SPY correlate at 0.21, weak. The relationship has been stable: the 1-year correlation (0.17) sits close to the 3-year figure. Stretching to 5 years gives 0.35, with an annualized covariance of 121.6 %².
Among the 39 assets we track against FISV, SPY ranks #24 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 82.5 percentage points (-61.9% for FISV against +20.6% for SPY). The relationship is regime-dependent: the rolling one-year correlation swung between 0.09 and 0.68 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: FISV runs 2.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FISV vs SPY: side by side
| FISV (Fiserv) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -61.9% | +20.6% |
| 5-year return | -55.0% | +82.4% |
| Volatility (ann.) | 39.2% | 14.5% |
| Beta vs S&P 500 | 0.58 | 1.00 |
| Max drawdown (3Y) | -80.2% | -18.8% |
| Market cap | $28.0B | – |
| P/E (trailing) | 10.1 | – |
| Dividend yield | 0.00% | 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 | FISV | SPY |
|---|---|---|
| 2022 | -2.6% | -18.2% |
| 2023 | +31.4% | +26.2% |
| 2024 | +54.6% | +24.9% |
| 2025 | -67.3% | +17.7% |
| 2026 | -21.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FISV and SPY good diversifiers for each other?
Reasonably. At 0.21, FISV and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FISV and SPY?
Using weekly returns as of 2026-08-27: 0.21 over 3 years, with 0.17 over the last year and 0.35 over 5 years.
Is SPY a good diversifier for FISV?
Reasonably. At 0.21, FISV and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.21 mean?
On the −1 to +1 scale, 0.21 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: FISV correlations · SPY correlations
