RIVN vs SPY: Correlation
Measured on weekly returns over the past three years, Rivian Automotive, Inc. (RIVN) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.26, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RIVN and SPY?
Across a 3-year window, the weekly returns of RIVN and SPY correlate at 0.26, weak. The link has loosened recently: the 1-year correlation (0.15) runs below the 3-year figure (0.26). Stretching to 5 years gives 0.41, with an annualized covariance of 249.5 %².
SPY is close to the least connected end of RIVN's tracked universe, ranking #6 of 10. The trailing year gives RIVN the advantage: +27.1% versus +20.6%, a 6.5-point spread. Risk is not evenly split, since RIVN carries 4.6 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.
RIVN vs SPY: side by side
| RIVN (Rivian Automotive, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +27.1% | +20.6% |
| 5-year return | -83.3% | +82.4% |
| Volatility (ann.) | 66.9% | 14.5% |
| Beta vs S&P 500 | 1.19 | 1.00 |
| Max drawdown (3Y) | -65.5% | -18.8% |
| Market cap | $24.3B | – |
| 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 | RIVN | SPY |
|---|---|---|
| 2022 | -82.2% | -18.2% |
| 2023 | +27.3% | +26.2% |
| 2024 | -43.3% | +24.9% |
| 2025 | +48.2% | +17.7% |
| 2026 | -14.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RIVN and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between RIVN and SPY?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with 0.15 over the last year and 0.41 over 5 years.
Is SPY a good diversifier for RIVN?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: RIVN correlations · SPY correlations
