RPD vs SPY: Correlation
How closely do Rapid7, Inc. (RPD) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RPD and SPY?
Across a 3-year window, the weekly returns of RPD and SPY correlate at 0.37, moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. Stretching to 5 years gives 0.44, with an annualized covariance of 297.2 %².
Among the 29 assets we track against RPD, SPY ranks #15 by 3-year correlation. The last year tells two different stories: SPY led by 55.3 percentage points, -34.7% for RPD against +20.6% for SPY. Risk is not evenly split, since RPD carries 3.9 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.
RPD vs SPY: side by side
| RPD (Rapid7, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -34.7% | +20.6% |
| 5-year return | -88.9% | +82.4% |
| Volatility (ann.) | 56.3% | 14.5% |
| Beta vs S&P 500 | 1.42 | 1.00 |
| Max drawdown (3Y) | -91.8% | -18.8% |
| Market cap | $0.9B | – |
| P/E (trailing) | 37.5 | – |
| 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 | RPD | SPY |
|---|---|---|
| 2022 | -71.1% | -18.2% |
| 2023 | +68.0% | +26.2% |
| 2024 | -29.5% | +24.9% |
| 2025 | -62.2% | +17.7% |
| 2026 | -11.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RPD and SPY good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between RPD and SPY?
As of 2026-08-27, the correlation of weekly returns between RPD and SPY is 0.37 over 3 years, 0.43 over 1 year and 0.44 over 5 years.
Is SPY a good diversifier for RPD?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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: RPD correlations · SPY correlations
