FLNT vs SPY: Correlation
How closely do Fluent, Inc. (FLNT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.24, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLNT and SPY?
On 3 years of weekly data the FLNT/SPY correlation comes out at 0.24, weak. The link has loosened recently: the 1-year correlation (0.11) runs below the 3-year figure (0.24). The 5-year figure is 0.25, and annualized covariance runs at 270.3 %².
Among the 10 assets we track against FLNT, SPY sits near the bottom by co-movement, at rank #6. Their recent paths diverged sharply: over the last 12 months FLNT outperformed by 32.9 percentage points (+53.5% for FLNT against +20.6% for SPY). One caveat on sizing: FLNT is 5.4 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.
FLNT vs SPY: side by side
| FLNT (Fluent, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +53.5% | +20.6% |
| 5-year return | -77.2% | +82.4% |
| Volatility (ann.) | 78.8% | 14.5% |
| Beta vs S&P 500 | 1.29 | 1.00 |
| Max drawdown (3Y) | -65.8% | -18.8% |
| Market cap | $0.1B | – |
| 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 | FLNT | SPY |
|---|---|---|
| 2022 | -45.2% | -18.2% |
| 2023 | -38.5% | +26.2% |
| 2024 | -37.3% | +24.9% |
| 2025 | -4.8% | +17.7% |
| 2026 | +54.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLNT and SPY good diversifiers for each other?
Reasonably. At 0.24, FLNT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FLNT and SPY?
Using weekly returns as of 2026-08-27: 0.24 over 3 years, with 0.11 over the last year and 0.25 over 5 years.
Is SPY a good diversifier for FLNT?
Reasonably. At 0.24, FLNT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.24 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/flnt-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/flnt-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FLNT correlations · SPY correlations
