RKT vs SPY: Correlation
How closely do Rocket Companies, Inc. (RKT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RKT and SPY?
Over the past 3 years, RKT and SPY moved with a correlation of 0.27, which is weak. The link has tightened recently: the 1-year correlation (0.49) runs above the 3-year figure (0.27). Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 213.1 %².
Among the 17 assets we track against RKT, SPY ranks #11 by 3-year correlation. The last year tells two different stories: SPY led by 41.8 percentage points, -21.2% for RKT against +20.6% for SPY. Note the risk asymmetry: RKT runs 3.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
RKT vs SPY: side by side
| RKT (Rocket Companies, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -21.2% | +20.6% |
| 5-year return | -7.5% | +82.4% |
| Volatility (ann.) | 55.4% | 14.5% |
| Beta vs S&P 500 | 1.02 | 1.00 |
| Max drawdown (3Y) | -50.6% | -18.8% |
| Market cap | $40.3B | – |
| 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 | RKT | SPY |
|---|---|---|
| 2022 | -46.2% | -18.2% |
| 2023 | +106.9% | +26.2% |
| 2024 | -22.2% | +24.9% |
| 2025 | +81.7% | +17.7% |
| 2026 | -26.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RKT and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between RKT and SPY?
Using weekly returns as of 2026-08-27: 0.27 over 3 years, with 0.49 over the last year and 0.41 over 5 years.
Is SPY a good diversifier for RKT?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 mean?
A reading of 0.27 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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Hubs: RKT correlations · SPY correlations
