LILAK vs SPY: Correlation
Measured on weekly returns over the past three years, Liberty Latin America Ltd. (LILAK) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.15, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LILAK and SPY?
Over the past 3 years, LILAK and SPY moved with a correlation of 0.15, which is weak. The past 12 months show a weaker link (-0.07) than the 3-year average (0.15). Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 108.7 %².
Out of 13 assets tracked against LILAK, SPY lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with LILAK ahead by 27.5 points (+48.1% versus +20.6%). Risk is not evenly split, since LILAK carries 3.4 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.
LILAK vs SPY: side by side
| LILAK (Liberty Latin America Ltd.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +48.1% | +20.6% |
| 5-year return | -15.2% | +82.4% |
| Volatility (ann.) | 49.7% | 14.5% |
| Beta vs S&P 500 | 0.52 | 1.00 |
| Max drawdown (3Y) | -57.2% | -18.8% |
| Market cap | $1.6B | – |
| 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 | LILAK | SPY |
|---|---|---|
| 2022 | -33.3% | -18.2% |
| 2023 | -3.4% | +26.2% |
| 2024 | -13.6% | +24.9% |
| 2025 | +17.7% | +17.7% |
| 2026 | +63.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LILAK and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between LILAK and SPY?
As of 2026-08-27, the correlation of weekly returns between LILAK and SPY is 0.15 over 3 years, -0.07 over 1 year and 0.29 over 5 years.
Is SPY a good diversifier for LILAK?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
What does a correlation of 0.15 mean?
On the −1 to +1 scale, 0.15 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: LILAK correlations · SPY correlations
