QNST vs SPY: Correlation
QuinStreet, Inc. (QNST) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QNST and SPY?
Over the past 3 years, QNST and SPY moved with a correlation of 0.37, which is moderate. Little has changed lately, as the 1-year reading of 0.44 lands near the 3-year figure. Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 253.9 %².
SPY is close to the least connected end of QNST's tracked universe, ranking #11 of 15. Their 12-month results are close: +21.4% for QNST against +20.6% for SPY. Risk is not evenly split, since QNST carries 3.3 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.
QNST vs SPY: side by side
| QNST (QuinStreet, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +21.4% | +20.6% |
| 5-year return | +6.2% | +82.4% |
| Volatility (ann.) | 47.9% | 14.5% |
| Beta vs S&P 500 | 1.22 | 1.00 |
| Max drawdown (3Y) | -58.0% | -18.8% |
| Market cap | $1.1B | – |
| P/E (trailing) | 14.1 | – |
| 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 | QNST | SPY |
|---|---|---|
| 2022 | -21.1% | -18.2% |
| 2023 | -10.7% | +26.2% |
| 2024 | +80.0% | +24.9% |
| 2025 | -37.7% | +17.7% |
| 2026 | +31.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QNST and SPY good diversifiers for each other?
Reasonably. At 0.37, QNST and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QNST and SPY?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.44 over the last year and 0.31 over 5 years.
Is SPY a good diversifier for QNST?
Reasonably. At 0.37, QNST and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 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: QNST correlations · SPY correlations
