NATR vs SPY: Correlation
Measured on weekly returns over the past three years, Nature's Sunshine Products, Inc. (NATR) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.11, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NATR and SPY?
Across a 3-year window, the weekly returns of NATR and SPY correlate at 0.11, weak. The link has loosened recently: the 1-year correlation (-0.10) runs below the 3-year figure (0.11). Stretching to 5 years gives 0.19, with an annualized covariance of 68.3 %².
Among the 14 assets we track against NATR, SPY ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 38.1 points (-17.5% versus +20.6%). Note the risk asymmetry: NATR runs 2.9 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.
NATR vs SPY: side by side
| NATR (Nature's Sunshine Products, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -17.5% | +20.6% |
| 5-year return | -19.3% | +82.4% |
| Volatility (ann.) | 42.5% | 14.5% |
| Beta vs S&P 500 | 0.33 | 1.00 |
| Max drawdown (3Y) | -49.9% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 13.9 | – |
| 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 | NATR | SPY |
|---|---|---|
| 2022 | -55.0% | -18.2% |
| 2023 | +107.8% | +26.2% |
| 2024 | -15.2% | +24.9% |
| 2025 | +47.2% | +17.7% |
| 2026 | -35.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NATR and SPY good diversifiers for each other?
Yes. With a correlation of 0.11, NATR and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NATR and SPY?
The NATR/SPY correlation stands at 0.11 on a 3-year window (1 year: -0.10, 5 years: 0.19), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for NATR?
Yes. With a correlation of 0.11, NATR and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.11 mean?
On the −1 to +1 scale, 0.11 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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Hubs: NATR correlations · SPY correlations
