PLNT vs SPY: Correlation
Planet Fitness, Inc. (PLNT) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.15.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLNT and SPY?
Across a 3-year window, the weekly returns of PLNT and SPY correlate at 0.15, weak. Lately the two have drifted apart, with the 1-year correlation at -0.14 versus 0.15 over 3 years. Stretching to 5 years gives 0.34, with an annualized covariance of 87.1 %².
Within PLNT's tracked universe of 24 assets, SPY comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 71.7 percentage points (-51.1% for PLNT against +20.6% for SPY). Risk is not evenly split, since PLNT carries 2.7 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.
PLNT vs SPY: side by side
| PLNT (Planet Fitness, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -51.1% | +20.6% |
| 5-year return | -36.6% | +82.4% |
| Volatility (ann.) | 39.0% | 14.5% |
| Beta vs S&P 500 | 0.42 | 1.00 |
| Max drawdown (3Y) | -61.2% | -18.8% |
| Market cap | $3.9B | – |
| P/E (trailing) | 17.6 | – |
| 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 | PLNT | SPY |
|---|---|---|
| 2022 | -13.0% | -18.2% |
| 2023 | -7.4% | +26.2% |
| 2024 | +35.4% | +24.9% |
| 2025 | +9.7% | +17.7% |
| 2026 | -52.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLNT and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between PLNT and SPY?
The PLNT/SPY correlation stands at 0.15 on a 3-year window (1 year: -0.14, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for PLNT?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
What does a correlation of 0.15 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: PLNT correlations · SPY correlations
