RVP vs SPY: Correlation
Measured on weekly returns over the past three years, Retractable Technologies, Inc. (RVP) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.19, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RVP and SPY?
Across a 3-year window, the weekly returns of RVP and SPY correlate at 0.19, weak. The past 12 months show a weaker link (0.05) than the 3-year average (0.19). Stretching to 5 years gives 0.28, with an annualized covariance of 101.4 %².
Among the 10 assets we track against RVP, SPY sits near the bottom by co-movement, at rank #6. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 33.6 percentage points (-13.0% for RVP against +20.6% for SPY). One caveat on sizing: RVP is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
RVP vs SPY: side by side
| RVP (Retractable Technologies, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -13.0% | +20.6% |
| 5-year return | -94.2% | +82.4% |
| Volatility (ann.) | 36.9% | 14.5% |
| Beta vs S&P 500 | 0.49 | 1.00 |
| Max drawdown (3Y) | -57.5% | -18.8% |
| Market cap | – | – |
| 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 | RVP | SPY |
|---|---|---|
| 2022 | -76.3% | -18.2% |
| 2023 | -32.3% | +26.2% |
| 2024 | -37.8% | +24.9% |
| 2025 | +11.6% | +17.7% |
| 2026 | -6.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RVP and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between RVP and SPY?
The RVP/SPY correlation stands at 0.19 on a 3-year window (1 year: 0.05, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for RVP?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
What does a correlation of 0.19 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: RVP correlations · SPY correlations
