RIOT vs SPY: Correlation
How closely do Riot Platforms, Inc. (RIOT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RIOT and SPY?
Across a 3-year window, the weekly returns of RIOT and SPY correlate at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.36 lands near the 3-year figure. Stretching to 5 years gives 0.48, with an annualized covariance of 501.9 %².
By 3-year correlation, SPY places #15 of the 21 assets tracked against RIOT. The last year tells two different stories: RIOT led by 33.5 percentage points, +54.1% for RIOT against +20.6% for SPY. Risk is not evenly split, since RIOT carries 5.7 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.
RIOT vs SPY: side by side
| RIOT (Riot Platforms, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +54.1% | +20.6% |
| 5-year return | -44.6% | +82.4% |
| Volatility (ann.) | 82.3% | 14.5% |
| Beta vs S&P 500 | 2.40 | 1.00 |
| Max drawdown (3Y) | -66.2% | -18.8% |
| Market cap | $7.8B | – |
| 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 | RIOT | SPY |
|---|---|---|
| 2022 | -84.8% | -18.2% |
| 2023 | +356.3% | +26.2% |
| 2024 | -34.0% | +24.9% |
| 2025 | +24.1% | +17.7% |
| 2026 | +64.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RIOT and SPY good diversifiers for each other?
Reasonably. At 0.42, RIOT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between RIOT and SPY?
As of 2026-08-27, the correlation of weekly returns between RIOT and SPY is 0.42 over 3 years, 0.36 over 1 year and 0.48 over 5 years.
Is SPY a good diversifier for RIOT?
Reasonably. At 0.42, RIOT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/riot-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/riot-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RIOT correlations · SPY correlations
