PAVS vs SPY: Correlation
How closely do Paranovus Entertainment Technology Ltd. - Class A (PAVS) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.11, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAVS and SPY?
Over the past 3 years, PAVS and SPY moved with a correlation of 0.11, which is weak. The past 12 months show a tighter link (0.27) than the 3-year average (0.11). Over 5 years the correlation is 0.07, and the annualized covariance of weekly returns is 221.1 %².
By 3-year correlation, SPY places #7 of the 13 assets tracked against PAVS. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 120.6 percentage points (-100.0% for PAVS against +20.6% for SPY). One caveat on sizing: PAVS is 9.2 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.
PAVS vs SPY: side by side
| PAVS (Paranovus Entertainment Technology Ltd. - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -100.0% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 133.6% | 14.5% |
| Beta vs S&P 500 | 1.06 | 1.00 |
| Max drawdown (3Y) | -100.0% | -18.8% |
| Market cap | – | – |
| 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 | PAVS | SPY |
|---|---|---|
| 2022 | -61.1% | -18.2% |
| 2023 | -44.6% | +26.2% |
| 2024 | -44.4% | +24.9% |
| 2025 | -98.7% | +17.7% |
| 2026 | -99.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAVS and SPY good diversifiers for each other?
Yes. With a correlation of 0.11, PAVS and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PAVS and SPY?
The PAVS/SPY correlation stands at 0.11 on a 3-year window (1 year: 0.27, 5 years: 0.07), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for PAVS?
Yes. With a correlation of 0.11, PAVS and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.11 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: PAVS correlations · SPY correlations
