HAYW vs SPY: Correlation
Measured on weekly returns over the past three years, Hayward Holdings, Inc. (HAYW) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAYW and SPY?
On 3 years of weekly data the HAYW/SPY correlation comes out at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.44 lands near the 3-year figure. The 5-year figure is 0.49, and annualized covariance runs at 189.9 %².
Out of 14 assets tracked against HAYW, SPY lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 33.0 percentage points (-12.4% for HAYW against +20.6% for SPY). Note the risk asymmetry: HAYW runs 2.2 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.
HAYW vs SPY: side by side
| HAYW (Hayward Holdings, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -12.4% | +20.6% |
| 5-year return | -33.8% | +82.4% |
| Volatility (ann.) | 31.5% | 14.5% |
| Beta vs S&P 500 | 0.91 | 1.00 |
| Max drawdown (3Y) | -31.8% | -18.8% |
| Market cap | $3.0B | – |
| P/E (trailing) | 20.1 | – |
| 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 | HAYW | SPY |
|---|---|---|
| 2022 | -64.2% | -18.2% |
| 2023 | +44.7% | +26.2% |
| 2024 | +12.4% | +24.9% |
| 2025 | +1.0% | +17.7% |
| 2026 | -7.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAYW and SPY good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HAYW and SPY?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.44 over the last year and 0.49 over 5 years.
Is SPY a good diversifier for HAYW?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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: HAYW correlations · SPY correlations
