MET vs SPY: Correlation
How closely do MetLife (MET) 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 MET and SPY?
On 3 years of weekly data the MET/SPY correlation comes out at 0.55, moderate. The past 12 months show a weaker link (0.40) than the 3-year average (0.55). The 5-year figure is 0.56, and annualized covariance runs at 186.2 %².
Within MET's tracked universe of 37 assets, SPY comes in at #22 by 3-year correlation. Their 12-month results are close: +22.1% for MET against +20.6% for SPY. On a rolling one-year basis the correlation drifted between 0.35 and 0.74, a moderate band. Risk is not evenly split, since MET carries 1.6 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.
MET vs SPY: side by side
| MET (MetLife) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +22.1% | +20.6% |
| 5-year return | +80.8% | +82.4% |
| Volatility (ann.) | 23.3% | 14.5% |
| Beta vs S&P 500 | 0.89 | 1.00 |
| Max drawdown (3Y) | -22.0% | -18.8% |
| Market cap | $61.2B | – |
| P/E (trailing) | 18.5 | – |
| Dividend yield | 2.38% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Financials | 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 | MET | SPY |
|---|---|---|
| 2022 | +19.2% | -18.2% |
| 2023 | -5.5% | +26.2% |
| 2024 | +27.7% | +24.9% |
| 2025 | -0.8% | +17.7% |
| 2026 | +24.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.08% of SPY is MET itself, so the fund partly moves with the stock by construction.
Are MET and SPY good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MET and SPY?
As of 2026-08-27, the correlation of weekly returns between MET and SPY is 0.55 over 3 years, 0.40 over 1 year and 0.56 over 5 years.
Is SPY a good diversifier for MET?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
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.
Use this data
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Related comparisons
Hubs: MET correlations · SPY correlations
