SNAL vs SPY: Correlation
How closely do Snail, Inc. (SNAL) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.22, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNAL and SPY?
Across a 3-year window, the weekly returns of SNAL and SPY correlate at 0.22, weak. The relationship has been stable: the 1-year correlation (0.22) sits close to the 3-year figure. Stretching to 5 years gives 0.24, with an annualized covariance of 462.9 %².
Among the 13 assets we track against SNAL, SPY ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 55.8 percentage points (-35.2% for SNAL against +20.6% for SPY). Note the risk asymmetry: SNAL runs 10.1 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.
SNAL vs SPY: side by side
| SNAL (Snail, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -35.2% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 146.7% | 14.5% |
| Beta vs S&P 500 | 2.22 | 1.00 |
| Max drawdown (3Y) | -88.0% | -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 | SNAL | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | -17.7% | +26.2% |
| 2024 | +53.7% | +24.9% |
| 2025 | -52.2% | +17.7% |
| 2026 | -33.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SNAL and SPY good diversifiers for each other?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SNAL and SPY?
Using weekly returns as of 2026-08-27: 0.22 over 3 years, with 0.22 over the last year and 0.24 over 5 years.
Is SPY a good diversifier for SNAL?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.22 mean?
On the −1 to +1 scale, 0.22 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/snal-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/snal-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SNAL correlations · SPY correlations
