FRGT vs SPY: Correlation
How closely do Freight Technologies, Inc. (FRGT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.20, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRGT and SPY?
On 3 years of weekly data the FRGT/SPY correlation comes out at 0.20, weak. Little has changed lately, as the 1-year reading of 0.10 lands near the 3-year figure. The 5-year figure is 0.22, and annualized covariance runs at 350.0 %².
SPY is close to the least connected end of FRGT's tracked universe, ranking #7 of 11. The last year tells two different stories: SPY led by 116.0 percentage points, -95.4% for FRGT against +20.6% for SPY. Risk is not evenly split, since FRGT carries 8.2 times the volatility of the other side.
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.
FRGT vs SPY: side by side
| FRGT (Freight Technologies, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -95.4% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 119.4% | 14.5% |
| Beta vs S&P 500 | 1.68 | 1.00 |
| Max drawdown (3Y) | -100.0% | -18.8% |
| Market cap | – | – |
| 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 | FRGT | SPY |
|---|---|---|
| 2022 | -96.2% | -18.2% |
| 2023 | -85.3% | +26.2% |
| 2024 | -97.8% | +24.9% |
| 2025 | -95.6% | +17.7% |
| 2026 | -82.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRGT and SPY good diversifiers for each other?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FRGT and SPY?
The FRGT/SPY correlation stands at 0.20 on a 3-year window (1 year: 0.10, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for FRGT?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.20 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.
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Related comparisons
Hubs: FRGT correlations · SPY correlations
