SDEV vs SPY: Correlation
Measured on weekly returns over the past three years, Stablecoin Development Corporation (SDEV) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.11, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SDEV and SPY?
On 3 years of weekly data the SDEV/SPY correlation comes out at 0.11, weak. The relationship has been stable: the 1-year correlation (0.12) sits close to the 3-year figure. The 5-year figure is 0.14, and annualized covariance runs at 366.1 %².
Among the 11 assets we track against SDEV, SPY sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with SPY ahead by 101.5 points (-80.9% versus +20.6%). Note the risk asymmetry: SDEV runs 15.3 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.
SDEV vs SPY: side by side
| SDEV (Stablecoin Development Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -80.9% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 222.1% | 14.5% |
| Beta vs S&P 500 | 1.75 | 1.00 |
| Max drawdown (3Y) | -99.0% | -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 | SDEV | SPY |
|---|---|---|
| 2022 | -85.3% | -18.2% |
| 2023 | -89.7% | +26.2% |
| 2024 | -91.4% | +24.9% |
| 2025 | +1322.1% | +17.7% |
| 2026 | -96.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SDEV and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.11 means the two rarely move for the same reasons.
FAQ
What is the correlation between SDEV and SPY?
The SDEV/SPY correlation stands at 0.11 on a 3-year window (1 year: 0.12, 5 years: 0.14), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for SDEV?
By historical standards, yes. A correlation of 0.11 means the two rarely move for the same reasons.
What does a correlation of 0.11 mean?
A reading of 0.11 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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Related comparisons
Hubs: SDEV correlations · SPY correlations
