OPTU vs SPY: Correlation
Optimum Communications, Inc. (OPTU) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.02.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OPTU and SPY?
On 3 years of weekly data the OPTU/SPY correlation comes out at 0.02, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.16) than the 3-year average (0.02). The 5-year figure is 0.21, and annualized covariance runs at 30.2 %².
By 3-year correlation, SPY places #6 of the 11 assets tracked against OPTU. Correlation aside, the last 12 months split them widely, with SPY ahead by 78.5 points (-57.9% versus +20.6%). One caveat on sizing: OPTU is 6.3 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.
OPTU vs SPY: side by side
| OPTU (Optimum Communications, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -57.9% | +20.6% |
| 5-year return | -96.3% | +82.4% |
| Volatility (ann.) | 91.7% | 14.5% |
| Beta vs S&P 500 | 0.14 | 1.00 |
| Max drawdown (3Y) | -82.5% | -18.8% |
| Market cap | $0.4B | – |
| 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 | OPTU | SPY |
|---|---|---|
| 2022 | -71.6% | -18.2% |
| 2023 | -29.3% | +26.2% |
| 2024 | -25.8% | +24.9% |
| 2025 | -31.5% | +17.7% |
| 2026 | -38.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OPTU and SPY good diversifiers for each other?
Yes: at 0.02, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OPTU and SPY?
The OPTU/SPY correlation stands at 0.02 on a 3-year window (1 year: -0.16, 5 years: 0.21), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for OPTU?
Yes: at 0.02, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.02 mean?
A reading of 0.02 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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Related comparisons
Hubs: OPTU correlations · SPY correlations
