FTI vs SPY: Correlation
TechnipFMC plc (FTI) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTI and SPY?
On 3 years of weekly data the FTI/SPY correlation comes out at 0.28, weak. The link has loosened recently: the 1-year correlation (-0.08) runs below the 3-year figure (0.28). The 5-year figure is 0.32, and annualized covariance runs at 146.7 %².
Out of 14 assets tracked against FTI, SPY lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with FTI ahead by 88.8 points (+109.4% versus +20.6%). One caveat on sizing: FTI is 2.5 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.
FTI vs SPY: side by side
| FTI (TechnipFMC plc) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +109.4% | +20.6% |
| 5-year return | +1078.9% | +82.4% |
| Volatility (ann.) | 36.4% | 14.5% |
| Beta vs S&P 500 | 0.70 | 1.00 |
| Max drawdown (3Y) | -28.9% | -18.8% |
| Market cap | $29.9B | – |
| P/E (trailing) | 26.5 | – |
| Dividend yield | 0.26% | 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 | FTI | SPY |
|---|---|---|
| 2022 | +105.9% | -18.2% |
| 2023 | +66.1% | +26.2% |
| 2024 | +44.8% | +24.9% |
| 2025 | +54.9% | +17.7% |
| 2026 | +71.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTI and SPY good diversifiers for each other?
Reasonably. At 0.28, FTI and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FTI and SPY?
The FTI/SPY correlation stands at 0.28 on a 3-year window (1 year: -0.08, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for FTI?
Reasonably. At 0.28, FTI and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 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: FTI correlations · SPY correlations
