HIG vs SPY: Correlation
Hartford (The) (HIG) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIG and SPY?
Across a 3-year window, the weekly returns of HIG and SPY correlate at 0.29, weak. The link has loosened recently: the 1-year correlation (-0.02) runs below the 3-year figure (0.29). Stretching to 5 years gives 0.43, with an annualized covariance of 81.5 %².
Within HIG's tracked universe of 49 assets, SPY comes in at #38 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 15.2 points (+5.4% versus +20.6%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.03 to 0.52.
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.
HIG vs SPY: side by side
| HIG (Hartford (The)) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +5.4% | +20.6% |
| 5-year return | +127.4% | +82.4% |
| Volatility (ann.) | 19.5% | 14.5% |
| Beta vs S&P 500 | 0.39 | 1.00 |
| Max drawdown (3Y) | -13.7% | -18.8% |
| Market cap | $37.3B | – |
| P/E (trailing) | 9.7 | – |
| Dividend yield | 1.66% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Financials | 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 | HIG | SPY |
|---|---|---|
| 2022 | +12.3% | -18.2% |
| 2023 | +8.5% | +26.2% |
| 2024 | +38.5% | +24.9% |
| 2025 | +28.1% | +17.7% |
| 2026 | +0.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.06% of SPY is HIG itself, so the fund partly moves with the stock by construction.
Are HIG and SPY good diversifiers for each other?
Reasonably. At 0.29, HIG and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HIG and SPY?
Using weekly returns as of 2026-08-27: 0.29 over 3 years, with -0.02 over the last year and 0.43 over 5 years.
Is SPY a good diversifier for HIG?
Reasonably. At 0.29, HIG and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.29 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/hig-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hig-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HIG correlations · SPY correlations
