SEZL vs SPY: Correlation
How closely do Sezzle Inc. (SEZL) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SEZL and SPY?
Across a 3-year window, the weekly returns of SEZL and SPY correlate at 0.35, moderate. The relationship has been stable: the 1-year correlation (0.34) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 707.8 %².
By 3-year correlation, SPY places #7 of the 12 assets tracked against SEZL. Correlation aside, the last 12 months split them widely, with SEZL ahead by 15.1 points (+35.7% versus +20.6%). One caveat on sizing: SEZL is 9.6 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.
SEZL vs SPY: side by side
| SEZL (Sezzle Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +35.7% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 139.3% | 14.5% |
| Beta vs S&P 500 | 3.39 | 1.00 |
| Max drawdown (3Y) | -90.0% | -18.8% |
| Market cap | $4.2B | – |
| P/E (trailing) | 27.1 | – |
| 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 | SEZL | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | +1146.6% | +24.9% |
| 2025 | +48.9% | +17.7% |
| 2026 | +98.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SEZL and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SEZL and SPY?
The SEZL/SPY correlation stands at 0.35 on a 3-year window (1 year: 0.34, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for SEZL?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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: SEZL correlations · SPY correlations
