SFM vs SPY: Correlation
How closely do Sprouts Farmers Market, Inc. (SFM) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.14, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SFM and SPY?
On 3 years of weekly data the SFM/SPY correlation comes out at 0.14, weak. Lately the two have drifted apart, with the 1-year correlation at -0.01 versus 0.14 over 3 years. The 5-year figure is 0.26, and annualized covariance runs at 78.6 %².
Among the 14 assets we track against SFM, SPY ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 64.6 percentage points (-44.0% for SFM against +20.6% for SPY). Risk is not evenly split, since SFM carries 2.7 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.
SFM vs SPY: side by side
| SFM (Sprouts Farmers Market, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -44.0% | +20.6% |
| 5-year return | +228.8% | +82.4% |
| Volatility (ann.) | 39.2% | 14.5% |
| Beta vs S&P 500 | 0.38 | 1.00 |
| Max drawdown (3Y) | -63.5% | -18.8% |
| Market cap | $7.6B | – |
| P/E (trailing) | 15.5 | – |
| 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 | SFM | SPY |
|---|---|---|
| 2022 | +9.1% | -18.2% |
| 2023 | +48.6% | +26.2% |
| 2024 | +164.1% | +24.9% |
| 2025 | -37.3% | +17.7% |
| 2026 | +1.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SFM and SPY good diversifiers for each other?
Yes. With a correlation of 0.14, SFM and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SFM and SPY?
As of 2026-08-27, the correlation of weekly returns between SFM and SPY is 0.14 over 3 years, -0.01 over 1 year and 0.26 over 5 years.
Is SPY a good diversifier for SFM?
Yes. With a correlation of 0.14, SFM and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.14 mean?
A reading of 0.14 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/sfm-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/sfm-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SFM correlations · SPY correlations
