RTB vs SPY: Correlation
RTB Digital, Inc. (RTB) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RTB and SPY?
Across a 3-year window, the weekly returns of RTB and SPY correlate at 0.28, weak. The relationship has been stable: the 1-year correlation (0.30) sits close to the 3-year figure. Stretching to 5 years gives 0.33, with an annualized covariance of 611.7 %².
Out of 13 assets tracked against RTB, SPY lands near the bottom at #9. Over the last 12 months SPY came out ahead by 5.1 percentage points (+15.5% against +20.6%). Risk is not evenly split, since RTB carries 10.4 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.
RTB vs SPY: side by side
| RTB (RTB Digital, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +15.5% | +20.6% |
| 5-year return | -99.6% | +82.4% |
| Volatility (ann.) | 150.2% | 14.5% |
| Beta vs S&P 500 | 2.93 | 1.00 |
| Max drawdown (3Y) | -99.2% | -18.8% |
| Market cap | $0.2B | – |
| 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 | RTB | SPY |
|---|---|---|
| 2022 | -89.0% | -18.2% |
| 2023 | -9.6% | +26.2% |
| 2024 | -68.8% | +24.9% |
| 2025 | -87.7% | +17.7% |
| 2026 | +131.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RTB and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between RTB and SPY?
The RTB/SPY correlation stands at 0.28 on a 3-year window (1 year: 0.30, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for RTB?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 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: RTB correlations · SPY correlations
