QRVO vs SPY: Correlation
Measured on weekly returns over the past three years, Qorvo, Inc. (QRVO) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QRVO and SPY?
On 3 years of weekly data the QRVO/SPY correlation comes out at 0.53, moderate. The past 12 months show a weaker link (0.39) than the 3-year average (0.53). The 5-year figure is 0.57, and annualized covariance runs at 319.3 %².
Within QRVO's tracked universe of 14 assets, SPY comes in at #6 by 3-year correlation. The last year tells two different stories: SPY led by 16.0 percentage points, +4.6% for QRVO against +20.6% for SPY. One caveat on sizing: QRVO is 2.9 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.
QRVO vs SPY: side by side
| QRVO (Qorvo, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +4.6% | +20.6% |
| 5-year return | -49.6% | +82.4% |
| Volatility (ann.) | 41.4% | 14.5% |
| Beta vs S&P 500 | 1.53 | 1.00 |
| Max drawdown (3Y) | -60.7% | -18.8% |
| Market cap | $8.5B | – |
| P/E (trailing) | 22.1 | – |
| 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 | QRVO | SPY |
|---|---|---|
| 2022 | -42.0% | -18.2% |
| 2023 | +24.2% | +26.2% |
| 2024 | -37.9% | +24.9% |
| 2025 | +20.8% | +17.7% |
| 2026 | +13.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QRVO and SPY good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between QRVO and SPY?
The QRVO/SPY correlation stands at 0.53 on a 3-year window (1 year: 0.39, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for QRVO?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 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: QRVO correlations · SPY correlations
