LLYVA vs SPY: Correlation
Measured on weekly returns over the past three years, Liberty Live Holdings, Inc. - Series A Liberty Live Group (LLYVA) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LLYVA and SPY?
Across a 3-year window, the weekly returns of LLYVA and SPY correlate at 0.46, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.25 versus 0.46 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of 206.2 %².
By 3-year correlation, SPY places #6 of the 12 assets tracked against LLYVA. The trailing year gives SPY the advantage: +6.4% versus +20.6%, a 14.2-point spread. Note the risk asymmetry: LLYVA runs 2.1 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.
LLYVA vs SPY: side by side
| LLYVA (Liberty Live Holdings, Inc. - Series A Liberty Live Group) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +6.4% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 30.7% | 14.5% |
| Beta vs S&P 500 | 0.99 | 1.00 |
| Max drawdown (3Y) | -24.4% | -18.8% |
| Market cap | $9.2B | – |
| 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 | LLYVA | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | +82.1% | +24.9% |
| 2025 | +22.4% | +17.7% |
| 2026 | +22.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LLYVA and SPY good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LLYVA and SPY?
As of 2026-08-27, the correlation of weekly returns between LLYVA and SPY is 0.46 over 3 years, 0.25 over 1 year and n/a over 5 years.
Is SPY a good diversifier for LLYVA?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 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/llyva-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/llyva-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LLYVA correlations · SPY correlations
