OPRT vs SPY: Correlation
Oportun Financial Corporation (OPRT) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OPRT and SPY?
Across a 3-year window, the weekly returns of OPRT and SPY correlate at 0.31, moderate. The past 12 months show a tighter link (0.53) than the 3-year average (0.31). Stretching to 5 years gives 0.38, with an annualized covariance of 369.9 %².
Out of 11 assets tracked against OPRT, SPY lands near the bottom at #7. Over the last 12 months SPY came out ahead by 6.2 percentage points (+14.4% against +20.6%). One caveat on sizing: OPRT is 5.8 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.
OPRT vs SPY: side by side
| OPRT (Oportun Financial Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +14.4% | +20.6% |
| 5-year return | -69.9% | +82.4% |
| Volatility (ann.) | 83.4% | 14.5% |
| Beta vs S&P 500 | 1.77 | 1.00 |
| Max drawdown (3Y) | -72.0% | -18.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 18.7 | – |
| 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 | OPRT | SPY |
|---|---|---|
| 2022 | -72.8% | -18.2% |
| 2023 | -29.0% | +26.2% |
| 2024 | -0.8% | +24.9% |
| 2025 | +36.3% | +17.7% |
| 2026 | +41.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OPRT and SPY good diversifiers for each other?
Reasonably. At 0.31, OPRT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between OPRT and SPY?
The OPRT/SPY correlation stands at 0.31 on a 3-year window (1 year: 0.53, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for OPRT?
Reasonably. At 0.31, OPRT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 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: OPRT correlations · SPY correlations
