SNPS vs SPY: Correlation
Synopsys (SNPS) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNPS and SPY?
Over the past 3 years, SNPS and SPY moved with a correlation of 0.54, which is moderate. The past 12 months show a weaker link (0.36) than the 3-year average (0.54). Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 328.6 %².
By 3-year correlation, SPY places #11 of the 33 assets tracked against SNPS. Correlation aside, the last 12 months split them widely, with SPY ahead by 43.5 points (-22.9% versus +20.6%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.28 to 0.81. Risk is not evenly split, since SNPS carries 2.9 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.
SNPS vs SPY: side by side
| SNPS (Synopsys) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -22.9% | +20.6% |
| 5-year return | +39.1% | +82.4% |
| Volatility (ann.) | 42.2% | 14.5% |
| Beta vs S&P 500 | 1.57 | 1.00 |
| Max drawdown (3Y) | -42.3% | -18.8% |
| Market cap | $89.1B | – |
| P/E (trailing) | 71.4 | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Information Technology | 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 | SNPS | SPY |
|---|---|---|
| 2022 | -13.4% | -18.2% |
| 2023 | +61.3% | +26.2% |
| 2024 | -5.7% | +24.9% |
| 2025 | -3.2% | +17.7% |
| 2026 | -1.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that SPY holds SNPS at a 0.12% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are SNPS and SPY good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between SNPS and SPY?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.36 over the last year and 0.58 over 5 years.
Is SPY a good diversifier for SNPS?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 mean?
A reading of 0.54 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
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Related comparisons
Hubs: SNPS correlations · SPY correlations
