RDZN vs SPY: Correlation
How closely do Roadzen, Inc. (RDZN) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.18, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RDZN and SPY?
Across a 3-year window, the weekly returns of RDZN and SPY correlate at 0.18, weak. Little has changed lately, as the 1-year reading of 0.20 lands near the 3-year figure. Stretching to 5 years gives 0.13, with an annualized covariance of 327.2 %².
Among the 20 assets we track against RDZN, SPY ranks #8 by 3-year correlation. The last year tells two different stories: RDZN led by 29.9 percentage points, +50.5% for RDZN against +20.6% for SPY. One caveat on sizing: RDZN is 8.5 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.
RDZN vs SPY: side by side
| RDZN (Roadzen, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +50.5% | +20.6% |
| 5-year return | -84.9% | +82.4% |
| Volatility (ann.) | 122.6% | 14.5% |
| Beta vs S&P 500 | 1.57 | 1.00 |
| Max drawdown (3Y) | -94.0% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 6.8 | – |
| 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 | RDZN | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | -50.3% | +26.2% |
| 2024 | -57.2% | +24.9% |
| 2025 | +10.6% | +17.7% |
| 2026 | -38.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RDZN and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between RDZN and SPY?
The RDZN/SPY correlation stands at 0.18 on a 3-year window (1 year: 0.20, 5 years: 0.13), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for RDZN?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
What does a correlation of 0.18 mean?
A reading of 0.18 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: RDZN correlations · SPY correlations
