REED vs SPY: Correlation
Reed's, Inc. (REED) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is -0.05.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are REED and SPY?
Over the past 3 years, REED and SPY moved with a correlation of -0.05, which is near zero, meaning they move largely independently. Recent behaviour matches the longer record: -0.03 over 1 year against -0.05 over 3. Over 5 years the correlation is 0.04, and the annualized covariance of weekly returns is -81.1 %².
Among the 31 assets we track against REED, SPY ranks #7 by 3-year correlation. The last year tells two different stories: SPY led by 104.7 percentage points, -84.1% for REED against +20.6% for SPY. Risk is not evenly split, since REED carries 7.2 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.
REED vs SPY: side by side
| REED (Reed's, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -84.1% | +20.6% |
| 5-year return | -99.5% | +82.4% |
| Volatility (ann.) | 104.6% | 14.5% |
| Beta vs S&P 500 | -0.39 | 1.00 |
| Max drawdown (3Y) | -96.4% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| 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 | REED | SPY |
|---|---|---|
| 2022 | -80.6% | -18.2% |
| 2023 | -54.3% | +26.2% |
| 2024 | -60.6% | +24.9% |
| 2025 | -44.4% | +17.7% |
| 2026 | -53.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are REED and SPY good diversifiers for each other?
By historical standards, yes. A correlation of -0.05 means the two rarely move for the same reasons.
FAQ
What is the correlation between REED and SPY?
Using weekly returns as of 2026-08-27: -0.05 over 3 years, with -0.03 over the last year and 0.04 over 5 years.
Is SPY a good diversifier for REED?
By historical standards, yes. A correlation of -0.05 means the two rarely move for the same reasons.
What does a correlation of -0.05 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: REED correlations · SPY correlations
