SITM vs SPY: Correlation
SiTime Corporation (SITM) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SITM and SPY?
Across a 3-year window, the weekly returns of SITM and SPY correlate at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. Stretching to 5 years gives 0.58, with an annualized covariance of 621.4 %².
SPY is close to the least connected end of SITM's tracked universe, ranking #9 of 13. Correlation aside, the last 12 months split them widely, with SITM ahead by 130.7 points (+151.3% versus +20.6%). One caveat on sizing: SITM is 5.4 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.
SITM vs SPY: side by side
| SITM (SiTime Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +151.3% | +20.6% |
| 5-year return | +183.2% | +82.4% |
| Volatility (ann.) | 77.7% | 14.5% |
| Beta vs S&P 500 | 2.97 | 1.00 |
| Max drawdown (3Y) | -55.3% | -18.8% |
| Market cap | $18.0B | – |
| P/E (trailing) | 999.8 | – |
| 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 | SITM | SPY |
|---|---|---|
| 2022 | -65.3% | -18.2% |
| 2023 | +20.1% | +26.2% |
| 2024 | +75.7% | +24.9% |
| 2025 | +64.6% | +17.7% |
| 2026 | +69.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SITM and SPY good diversifiers for each other?
Only partially. A correlation of 0.55 means SITM and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between SITM and SPY?
As of 2026-08-27, the correlation of weekly returns between SITM and SPY is 0.55 over 3 years, 0.53 over 1 year and 0.58 over 5 years.
Is SPY a good diversifier for SITM?
Only partially. A correlation of 0.55 means SITM and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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: SITM correlations · SPY correlations
