ORCL vs SPY: Correlation
Measured on weekly returns over the past three years, Oracle Corporation (ORCL) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ORCL and SPY?
On 3 years of weekly data the ORCL/SPY correlation comes out at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. The 5-year figure is 0.52, and annualized covariance runs at 357.8 %².
Within ORCL's tracked universe of 30 assets, SPY comes in at #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 55.4 percentage points (-34.8% for ORCL against +20.6% for SPY). The rolling one-year correlation moved between 0.36 and 0.74 over the past three years, a moderate range. One caveat on sizing: ORCL is 3.4 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.
ORCL vs SPY: side by side
| ORCL (Oracle Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -34.8% | +20.6% |
| 5-year return | +81.7% | +82.4% |
| Volatility (ann.) | 49.9% | 14.5% |
| Beta vs S&P 500 | 1.71 | 1.00 |
| Max drawdown (3Y) | -64.6% | -18.8% |
| Market cap | $437.7B | – |
| P/E (trailing) | 25.5 | – |
| Dividend yield | 1.34% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Information Technology | 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 | ORCL | SPY |
|---|---|---|
| 2022 | -4.6% | -18.2% |
| 2023 | +30.9% | +26.2% |
| 2024 | +60.0% | +24.9% |
| 2025 | +18.1% | +17.7% |
| 2026 | -21.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.38% of SPY is ORCL itself, so the fund partly moves with the stock by construction.
Are ORCL and SPY good diversifiers for each other?
Only partially. A correlation of 0.50 means ORCL and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ORCL and SPY?
The ORCL/SPY correlation stands at 0.50 on a 3-year window (1 year: 0.49, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for ORCL?
Only partially. A correlation of 0.50 means ORCL and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: ORCL correlations · SPY correlations
