QLYS vs SPY: Correlation
Measured on weekly returns over the past three years, Qualys, Inc. (QLYS) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QLYS and SPY?
Over the past 3 years, QLYS and SPY moved with a correlation of 0.36, which is moderate. The past 12 months show a weaker link (0.18) than the 3-year average (0.36). Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 228.7 %².
Out of 13 assets tracked against QLYS, SPY lands near the bottom at #9. The last year tells two different stories: QLYS led by 19.4 percentage points, +40.0% for QLYS against +20.6% for SPY. Risk is not evenly split, since QLYS carries 3.0 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.
QLYS vs SPY: side by side
| QLYS (Qualys, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +40.0% | +20.6% |
| 5-year return | +62.5% | +82.4% |
| Volatility (ann.) | 43.5% | 14.5% |
| Beta vs S&P 500 | 1.09 | 1.00 |
| Max drawdown (3Y) | -63.0% | -18.8% |
| Market cap | $6.5B | – |
| P/E (trailing) | 30.7 | – |
| 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 | QLYS | SPY |
|---|---|---|
| 2022 | -18.2% | -18.2% |
| 2023 | +74.9% | +26.2% |
| 2024 | -28.6% | +24.9% |
| 2025 | -5.2% | +17.7% |
| 2026 | +41.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QLYS and SPY good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QLYS and SPY?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.18 over the last year and 0.46 over 5 years.
Is SPY a good diversifier for QLYS?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 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: QLYS correlations · SPY correlations
