NVEC vs SPY: Correlation
NVE Corporation (NVEC) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVEC and SPY?
Over the past 3 years, NVEC and SPY moved with a correlation of 0.37, which is moderate. Little has changed lately, as the 1-year reading of 0.28 lands near the 3-year figure. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 238.3 %².
SPY is close to the least connected end of NVEC's tracked universe, ranking #7 of 10. Their recent paths diverged sharply: over the last 12 months NVEC outperformed by 53.1 percentage points (+73.7% for NVEC against +20.6% for SPY). Note the risk asymmetry: NVEC runs 3.1 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.
NVEC vs SPY: side by side
| NVEC (NVE Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +73.7% | +20.6% |
| 5-year return | +103.2% | +82.4% |
| Volatility (ann.) | 44.5% | 14.5% |
| Beta vs S&P 500 | 1.14 | 1.00 |
| Max drawdown (3Y) | -37.7% | -18.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 28.8 | – |
| Dividend yield | 3.73% | 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 | NVEC | SPY |
|---|---|---|
| 2022 | +1.9% | -18.2% |
| 2023 | +27.7% | +26.2% |
| 2024 | +9.2% | +24.9% |
| 2025 | -22.7% | +17.7% |
| 2026 | +86.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVEC and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NVEC and SPY?
As of 2026-08-27, the correlation of weekly returns between NVEC and SPY is 0.37 over 3 years, 0.28 over 1 year and 0.40 over 5 years.
Is SPY a good diversifier for NVEC?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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: NVEC correlations · SPY correlations
