PSFE vs SPY: Correlation
Measured on weekly returns over the past three years, Paysafe Limited (PSFE) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PSFE and SPY?
Across a 3-year window, the weekly returns of PSFE and SPY correlate at 0.38, moderate. The link has loosened recently: the 1-year correlation (0.27) runs below the 3-year figure (0.38). Stretching to 5 years gives 0.46, with an annualized covariance of 335.8 %².
Within PSFE's tracked universe of 13 assets, SPY comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 72.8 points (-52.2% versus +20.6%). One caveat on sizing: PSFE is 4.2 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.
PSFE vs SPY: side by side
| PSFE (Paysafe Limited) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -52.2% | +20.6% |
| 5-year return | -93.3% | +82.4% |
| Volatility (ann.) | 60.9% | 14.5% |
| Beta vs S&P 500 | 1.61 | 1.00 |
| Max drawdown (3Y) | -76.6% | -18.8% |
| Market cap | $0.4B | – |
| 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 | PSFE | SPY |
|---|---|---|
| 2022 | -70.4% | -18.2% |
| 2023 | -7.9% | +26.2% |
| 2024 | +33.7% | +24.9% |
| 2025 | -52.7% | +17.7% |
| 2026 | -16.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PSFE and SPY good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PSFE and SPY?
The PSFE/SPY correlation stands at 0.38 on a 3-year window (1 year: 0.27, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for PSFE?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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: PSFE correlations · SPY correlations
