GIFT vs SPY: Correlation
How closely do Giftify, Inc. (GIFT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.09, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GIFT and SPY?
On 3 years of weekly data the GIFT/SPY correlation comes out at 0.09, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.14) sits close to the 3-year figure. The 5-year figure is -0.01, and annualized covariance runs at 86.9 %².
Within GIFT's tracked universe of 19 assets, SPY comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 40.6 percentage points (-20.0% for GIFT against +20.6% for SPY). Note the risk asymmetry: GIFT runs 4.8 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.
GIFT vs SPY: side by side
| GIFT (Giftify, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -20.0% | +20.6% |
| 5-year return | -65.3% | +82.4% |
| Volatility (ann.) | 70.2% | 14.5% |
| Beta vs S&P 500 | 0.42 | 1.00 |
| Max drawdown (3Y) | -83.5% | -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 | GIFT | SPY |
|---|---|---|
| 2022 | +135.8% | -18.2% |
| 2023 | +182.7% | +26.2% |
| 2024 | -72.7% | +24.9% |
| 2025 | +0.9% | +17.7% |
| 2026 | -25.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GIFT and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
FAQ
What is the correlation between GIFT and SPY?
As of 2026-08-27, the correlation of weekly returns between GIFT and SPY is 0.09 over 3 years, 0.14 over 1 year and -0.01 over 5 years.
Is SPY a good diversifier for GIFT?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
What does a correlation of 0.09 mean?
On the −1 to +1 scale, 0.09 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: GIFT correlations · SPY correlations
