PCOR vs SPY: Correlation
Procore Technologies, Inc. (PCOR) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PCOR and SPY?
Over the past 3 years, PCOR and SPY moved with a correlation of 0.41, which is moderate. The link has loosened recently: the 1-year correlation (0.15) runs below the 3-year figure (0.41). Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 272.8 %².
SPY is close to the least connected end of PCOR's tracked universe, ranking #17 of 21. The last year tells two different stories: SPY led by 26.6 percentage points, -6.0% for PCOR against +20.6% for SPY. Risk is not evenly split, since PCOR carries 3.2 times the volatility of the other side.
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.
PCOR vs SPY: side by side
| PCOR (Procore Technologies, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -6.0% | +20.6% |
| 5-year return | -32.7% | +82.4% |
| Volatility (ann.) | 46.4% | 14.5% |
| Beta vs S&P 500 | 1.31 | 1.00 |
| Max drawdown (3Y) | -56.6% | -18.8% |
| Market cap | $9.7B | – |
| 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 | PCOR | SPY |
|---|---|---|
| 2022 | -41.0% | -18.2% |
| 2023 | +46.7% | +26.2% |
| 2024 | +8.2% | +24.9% |
| 2025 | -2.9% | +17.7% |
| 2026 | -12.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PCOR and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PCOR and SPY?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.15 over the last year and 0.51 over 5 years.
Is SPY a good diversifier for PCOR?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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: PCOR correlations · SPY correlations
