HLT vs SPY: Correlation
Measured on weekly returns over the past three years, Hilton Worldwide (HLT) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLT and SPY?
Across a 3-year window, the weekly returns of HLT and SPY correlate at 0.59, moderate. The past 12 months show a weaker link (0.28) than the 3-year average (0.59). Stretching to 5 years gives 0.63, with an annualized covariance of 177.1 %².
By 3-year correlation, SPY places #16 of the 40 assets tracked against HLT. Neither side won the trailing year by much: +18.1% against +20.6%. On a rolling one-year basis the correlation drifted between 0.28 and 0.74, a moderate band.
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.
HLT vs SPY: side by side
| HLT (Hilton Worldwide) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +18.1% | +20.6% |
| 5-year return | +162.7% | +82.4% |
| Volatility (ann.) | 20.7% | 14.5% |
| Beta vs S&P 500 | 0.85 | 1.00 |
| Max drawdown (3Y) | -26.4% | -18.8% |
| Market cap | $73.3B | – |
| P/E (trailing) | 47.8 | – |
| Dividend yield | 0.18% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Consumer Discretionary | 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 | HLT | SPY |
|---|---|---|
| 2022 | -18.7% | -18.2% |
| 2023 | +44.7% | +26.2% |
| 2024 | +36.1% | +24.9% |
| 2025 | +16.5% | +17.7% |
| 2026 | +13.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
HLT represents 0.11% of SPY's portfolio, so part of any move in SPY is HLT itself, and the correlation between them is partly mechanical.
Are HLT and SPY good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HLT and SPY?
The HLT/SPY correlation stands at 0.59 on a 3-year window (1 year: 0.28, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for HLT?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 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: HLT correlations · SPY correlations
