SOC vs SPY: Correlation
Measured on weekly returns over the past three years, Sable Offshore Corp. (SOC) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.00, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SOC and SPY?
Over the past 3 years, SOC and SPY moved with a correlation of 0.00, which is near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.25) runs below the 3-year figure (0.00). Over 5 years the correlation is 0.01, and the annualized covariance of weekly returns is 6.2 %².
Among the 31 assets we track against SOC, SPY ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 104.2 percentage points (-83.6% for SOC against +20.6% for SPY). Risk is not evenly split, since SOC carries 7.0 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.
SOC vs SPY: side by side
| SOC (Sable Offshore Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -83.6% | +20.6% |
| 5-year return | -51.7% | +82.4% |
| Volatility (ann.) | 101.7% | 14.5% |
| Beta vs S&P 500 | 0.03 | 1.00 |
| Max drawdown (3Y) | -90.7% | -18.8% |
| Market cap | $0.9B | – |
| 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 | SOC | SPY |
|---|---|---|
| 2022 | +3.4% | -18.2% |
| 2023 | +13.3% | +26.2% |
| 2024 | +101.1% | +24.9% |
| 2025 | -60.6% | +17.7% |
| 2026 | -48.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SOC and SPY good diversifiers for each other?
Yes: at 0.00, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SOC and SPY?
The SOC/SPY correlation stands at 0.00 on a 3-year window (1 year: -0.25, 5 years: 0.01), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for SOC?
Yes: at 0.00, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.00 mean?
A reading of 0.00 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/soc-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/soc-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SOC correlations · SPY correlations
