LSPD vs SPY: Correlation
How closely do Lightspeed Commerce Inc. Subordinate Voting Shares (LSPD) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LSPD and SPY?
Across a 3-year window, the weekly returns of LSPD and SPY correlate at 0.55, moderate. The past 12 months show a weaker link (0.38) than the 3-year average (0.55). Stretching to 5 years gives 0.59, with an annualized covariance of 381.4 %².
Among the 17 assets we track against LSPD, SPY ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 32.2 points (-11.6% versus +20.6%). Risk is not evenly split, since LSPD 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.
LSPD vs SPY: side by side
| LSPD (Lightspeed Commerce Inc. Subordinate Voting Shares) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -11.6% | +20.6% |
| 5-year return | -90.0% | +82.4% |
| Volatility (ann.) | 48.1% | 14.5% |
| Beta vs S&P 500 | 1.83 | 1.00 |
| Max drawdown (3Y) | -62.7% | -18.8% |
| Market cap | $1.4B | – |
| 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 | LSPD | SPY |
|---|---|---|
| 2022 | -64.6% | -18.2% |
| 2023 | +46.8% | +26.2% |
| 2024 | -27.4% | +24.9% |
| 2025 | -20.7% | +17.7% |
| 2026 | -10.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LSPD and SPY good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between LSPD and SPY?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.38 over the last year and 0.59 over 5 years.
Is SPY a good diversifier for LSPD?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
A reading of 0.55 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: LSPD correlations · SPY correlations
