PRVA vs SPY: Correlation
Privia Health Group, Inc. (PRVA) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRVA and SPY?
Across a 3-year window, the weekly returns of PRVA and SPY correlate at 0.30, moderate. Little has changed lately, as the 1-year reading of 0.20 lands near the 3-year figure. Stretching to 5 years gives 0.28, with an annualized covariance of 152.6 %².
Out of 11 assets tracked against PRVA, SPY lands near the bottom at #7. The last year tells two different stories: SPY led by 24.7 percentage points, -4.1% for PRVA against +20.6% for SPY. Risk is not evenly split, since PRVA carries 2.4 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.
PRVA vs SPY: side by side
| PRVA (Privia Health Group, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -4.1% | +20.6% |
| 5-year return | -36.0% | +82.4% |
| Volatility (ann.) | 34.7% | 14.5% |
| Beta vs S&P 500 | 0.73 | 1.00 |
| Max drawdown (3Y) | -40.0% | -18.8% |
| Market cap | $2.7B | – |
| P/E (trailing) | 94.8 | – |
| 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 | PRVA | SPY |
|---|---|---|
| 2022 | -12.2% | -18.2% |
| 2023 | +1.4% | +26.2% |
| 2024 | -15.1% | +24.9% |
| 2025 | +21.3% | +17.7% |
| 2026 | -12.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRVA and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PRVA and SPY?
The PRVA/SPY correlation stands at 0.30 on a 3-year window (1 year: 0.20, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for PRVA?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 mean?
A reading of 0.30 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: PRVA correlations · SPY correlations
