RYDE vs SPY: Correlation
Ryde Group Ltd. Class A (RYDE) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is -0.05.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RYDE and SPY?
Across a 3-year window, the weekly returns of RYDE and SPY correlate at -0.05, near zero, meaning they move largely independently. The link has tightened recently: the 1-year correlation (0.10) runs above the 3-year figure (-0.05). Stretching to 5 years gives n/a, with an annualized covariance of -160.7 %².
Among the 10 assets we track against RYDE, SPY sits near the bottom by co-movement, at rank #7. The last year tells two different stories: RYDE led by 97.3 percentage points, +117.9% for RYDE against +20.6% for SPY. Risk is not evenly split, since RYDE carries 15.5 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.
RYDE vs SPY: side by side
| RYDE (Ryde Group Ltd. Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +117.9% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 224.8% | 14.5% |
| Beta vs S&P 500 | -0.77 | 1.00 |
| Max drawdown (3Y) | -99.1% | -18.8% |
| Market cap | $0.1B | – |
| 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 | RYDE | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | – | +24.9% |
| 2025 | -43.5% | +17.7% |
| 2026 | +147.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RYDE and SPY good diversifiers for each other?
Yes. With a correlation of -0.05, RYDE and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RYDE and SPY?
Using weekly returns as of 2026-08-27: -0.05 over 3 years, with 0.10 over the last year and n/a over 5 years.
Is SPY a good diversifier for RYDE?
Yes. With a correlation of -0.05, RYDE and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.05 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: RYDE correlations · SPY correlations
