JILL vs SPY: Correlation
Measured on weekly returns over the past three years, J. Jill, Inc. (JILL) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JILL and SPY?
Over the past 3 years, JILL and SPY moved with a correlation of 0.36, which is moderate. The link has loosened recently: the 1-year correlation (0.17) runs below the 3-year figure (0.36). Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 245.0 %².
Within JILL's tracked universe of 14 assets, SPY comes in at #7 by 3-year correlation. Their 12-month results are close: +18.8% for JILL against +20.6% for SPY. Risk is not evenly split, since JILL carries 3.3 times the volatility of the other side.
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.
JILL vs SPY: side by side
| JILL (J. Jill, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +18.8% | +20.6% |
| 5-year return | -1.2% | +82.4% |
| Volatility (ann.) | 47.4% | 14.5% |
| Beta vs S&P 500 | 1.17 | 1.00 |
| Max drawdown (3Y) | -71.5% | -18.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 14.5 | – |
| Dividend yield | 1.66% | 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 | JILL | SPY |
|---|---|---|
| 2022 | +29.3% | -18.2% |
| 2023 | +4.0% | +26.2% |
| 2024 | +7.9% | +24.9% |
| 2025 | -49.3% | +17.7% |
| 2026 | +46.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JILL and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between JILL and SPY?
As of 2026-08-27, the correlation of weekly returns between JILL and SPY is 0.36 over 3 years, 0.17 over 1 year and 0.32 over 5 years.
Is SPY a good diversifier for JILL?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: JILL correlations · SPY correlations
