PLTR vs SPY: Correlation
Palantir Technologies (PLTR) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLTR and SPY?
Over the past 3 years, PLTR and SPY moved with a correlation of 0.50, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.50 over 3. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 515.1 %².
By 3-year correlation, SPY places #17 of the 36 assets tracked against PLTR. Neither side won the trailing year by much: +18.6% against +20.6%. On a rolling one-year basis the correlation drifted between 0.31 and 0.62, a moderate band. Note the risk asymmetry: PLTR runs 4.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PLTR vs SPY: side by side
| PLTR (Palantir Technologies) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +18.6% | +20.6% |
| 5-year return | +621.8% | +82.4% |
| Volatility (ann.) | 71.3% | 14.5% |
| Beta vs S&P 500 | 2.47 | 1.00 |
| Max drawdown (3Y) | -48.2% | -18.8% |
| Market cap | $446.8B | – |
| P/E (trailing) | 151.2 | – |
| Dividend yield | 0.00% | 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 | PLTR | SPY |
|---|---|---|
| 2022 | -64.7% | -18.2% |
| 2023 | +167.4% | +26.2% |
| 2024 | +340.5% | +24.9% |
| 2025 | +135.0% | +17.7% |
| 2026 | +4.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.62% of SPY is PLTR itself, so the fund partly moves with the stock by construction.
Are PLTR and SPY good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between PLTR and SPY?
As of 2026-08-27, the correlation of weekly returns between PLTR and SPY is 0.50 over 3 years, 0.46 over 1 year and 0.51 over 5 years.
Is SPY a good diversifier for PLTR?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pltr-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pltr-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PLTR correlations · SPY correlations
