LLYVK vs SPY: Correlation
Measured on weekly returns over the past three years, Liberty Live Holdings, Inc. - Series C Liberty Live Group (LLYVK) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LLYVK and SPY?
Over the past 3 years, LLYVK and SPY moved with a correlation of 0.45, which is moderate. The past 12 months show a weaker link (0.21) than the 3-year average (0.45). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 201.5 %².
Within LLYVK's tracked universe of 13 assets, SPY comes in at #6 by 3-year correlation. The trailing year gives SPY the advantage: +7.1% versus +20.6%, a 13.5-point spread. Note the risk asymmetry: LLYVK 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.
LLYVK vs SPY: side by side
| LLYVK (Liberty Live Holdings, Inc. - Series C Liberty Live Group) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +7.1% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 30.9% | 14.5% |
| Beta vs S&P 500 | 0.96 | 1.00 |
| Max drawdown (3Y) | -24.1% | -18.8% |
| Market cap | $9.5B | – |
| 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 | LLYVK | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | +82.0% | +24.9% |
| 2025 | +22.2% | +17.7% |
| 2026 | +24.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LLYVK and SPY good diversifiers for each other?
Reasonably. At 0.45, LLYVK and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LLYVK and SPY?
As of 2026-08-27, the correlation of weekly returns between LLYVK and SPY is 0.45 over 3 years, 0.21 over 1 year and n/a over 5 years.
Is SPY a good diversifier for LLYVK?
Reasonably. At 0.45, LLYVK and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 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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Hubs: LLYVK correlations · SPY correlations
