PYT vs SPY: Correlation
How closely do PPlus Tr GSC-2 Tr Ctf Fltg Rate (PYT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.22, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PYT and SPY?
On 3 years of weekly data the PYT/SPY correlation comes out at 0.22, weak. Recent behaviour matches the longer record: 0.22 over 1 year against 0.22 over 3. The 5-year figure is 0.03, and annualized covariance runs at 30.8 %².
SPY is close to the least connected end of PYT's tracked universe, ranking #7 of 11. The last year tells two different stories: SPY led by 15.5 percentage points, +5.1% for PYT against +20.6% for SPY.
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.
PYT vs SPY: side by side
| PYT (PPlus Tr GSC-2 Tr Ctf Fltg Rate) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +5.1% | +20.6% |
| 5-year return | +19.5% | +82.4% |
| Volatility (ann.) | 9.7% | 14.5% |
| Beta vs S&P 500 | 0.15 | 1.00 |
| Max drawdown (3Y) | -6.1% | -18.8% |
| Dividend yield | – | 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 | PYT | SPY |
|---|---|---|
| 2022 | -14.1% | -18.2% |
| 2023 | +10.8% | +26.2% |
| 2024 | +8.3% | +24.9% |
| 2025 | +8.2% | +17.7% |
| 2026 | +4.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PYT and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.22 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PYT and SPY?
As of 2026-08-27, the correlation of weekly returns between PYT and SPY is 0.22 over 3 years, 0.22 over 1 year and 0.03 over 5 years.
Is SPY a good diversifier for PYT?
Yes, to a useful degree: a correlation of 0.22 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.22 mean?
A reading of 0.22 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: PYT correlations · SPY correlations
