NVTS vs SPY: Correlation
Navitas Semiconductor Corporation (NVTS) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVTS and SPY?
Across a 3-year window, the weekly returns of NVTS and SPY correlate at 0.25, weak. The link has tightened recently: the 1-year correlation (0.42) runs above the 3-year figure (0.25). Stretching to 5 years gives 0.32, with an annualized covariance of 441.4 %².
Among the 22 assets we track against NVTS, SPY ranks #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NVTS ahead by 85.5 points (+106.1% versus +20.6%). Note the risk asymmetry: NVTS runs 8.5 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.
NVTS vs SPY: side by side
| NVTS (Navitas Semiconductor Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +106.1% | +20.6% |
| 5-year return | -2.3% | +82.4% |
| Volatility (ann.) | 122.7% | 14.5% |
| Beta vs S&P 500 | 2.11 | 1.00 |
| Max drawdown (3Y) | -81.8% | -18.8% |
| Market cap | $3.3B | – |
| 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 | NVTS | SPY |
|---|---|---|
| 2022 | -79.4% | -18.2% |
| 2023 | +129.9% | +26.2% |
| 2024 | -55.8% | +24.9% |
| 2025 | +100.0% | +17.7% |
| 2026 | +75.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVTS and SPY good diversifiers for each other?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NVTS and SPY?
The NVTS/SPY correlation stands at 0.25 on a 3-year window (1 year: 0.42, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for NVTS?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.25 mean?
A reading of 0.25 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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Hubs: NVTS correlations · SPY correlations
