NRDS vs SPY: Correlation
NerdWallet, Inc. (NRDS) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRDS and SPY?
Across a 3-year window, the weekly returns of NRDS and SPY correlate at 0.28, weak. The relationship has been stable: the 1-year correlation (0.27) sits close to the 3-year figure. Stretching to 5 years gives 0.32, with an annualized covariance of 226.1 %².
Within NRDS's tracked universe of 12 assets, SPY comes in at #7 by 3-year correlation. The last year tells two different stories: SPY led by 28.0 percentage points, -7.4% for NRDS against +20.6% for SPY. One caveat on sizing: NRDS is 3.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NRDS vs SPY: side by side
| NRDS (NerdWallet, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -7.4% | +20.6% |
| 5-year return | -65.7% | +82.4% |
| Volatility (ann.) | 55.3% | 14.5% |
| Beta vs S&P 500 | 1.08 | 1.00 |
| Max drawdown (3Y) | -55.4% | -18.8% |
| Market cap | $0.6B | – |
| P/E (trailing) | 10.9 | – |
| 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 | NRDS | SPY |
|---|---|---|
| 2022 | -38.3% | -18.2% |
| 2023 | +53.3% | +26.2% |
| 2024 | -9.6% | +24.9% |
| 2025 | +1.9% | +17.7% |
| 2026 | -28.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRDS and SPY good diversifiers for each other?
Reasonably. At 0.28, NRDS and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NRDS and SPY?
As of 2026-08-27, the correlation of weekly returns between NRDS and SPY is 0.28 over 3 years, 0.27 over 1 year and 0.32 over 5 years.
Is SPY a good diversifier for NRDS?
Reasonably. At 0.28, NRDS and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 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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Related comparisons
Hubs: NRDS correlations · SPY correlations
