PINS vs SPY: Correlation
Measured on weekly returns over the past three years, Pinterest, Inc. (PINS) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PINS and SPY?
Over the past 3 years, PINS and SPY moved with a correlation of 0.45, which is moderate. The past 12 months show a weaker link (0.31) than the 3-year average (0.45). Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 309.9 %².
Within PINS's tracked universe of 16 assets, SPY comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 57.3 percentage points (-36.7% for PINS against +20.6% for SPY). One caveat on sizing: PINS is 3.3 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.
PINS vs SPY: side by side
| PINS (Pinterest, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -36.7% | +20.6% |
| 5-year return | -59.5% | +82.4% |
| Volatility (ann.) | 48.1% | 14.5% |
| Beta vs S&P 500 | 1.48 | 1.00 |
| Max drawdown (3Y) | -65.7% | -18.8% |
| Market cap | $13.0B | – |
| P/E (trailing) | 69.3 | – |
| 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 | PINS | SPY |
|---|---|---|
| 2022 | -33.2% | -18.2% |
| 2023 | +52.6% | +26.2% |
| 2024 | -21.7% | +24.9% |
| 2025 | -10.7% | +17.7% |
| 2026 | -11.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PINS and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PINS and SPY?
As of 2026-08-27, the correlation of weekly returns between PINS and SPY is 0.45 over 3 years, 0.31 over 1 year and 0.45 over 5 years.
Is SPY a good diversifier for PINS?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pins-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pins-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PINS correlations · SPY correlations
