SOFI vs SPY: Correlation
SoFi Technologies, Inc. (SOFI) and SPDR S&P 500 ETF Trust (SPY) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SOFI and SPY?
Across a 3-year window, the weekly returns of SOFI and SPY correlate at 0.62, strong. Recent behaviour matches the longer record: 0.58 over 1 year against 0.62 over 3. Stretching to 5 years gives 0.55, with an annualized covariance of 501.1 %².
Among the 18 assets we track against SOFI, SPY ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 43.8 percentage points (-23.2% for SOFI against +20.6% for SPY). Risk is not evenly split, since SOFI carries 3.9 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.
SOFI vs SPY: side by side
| SOFI (SoFi Technologies, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -23.2% | +20.6% |
| 5-year return | +35.2% | +82.4% |
| Volatility (ann.) | 56.2% | 14.5% |
| Beta vs S&P 500 | 2.40 | 1.00 |
| Max drawdown (3Y) | -53.0% | -18.8% |
| Market cap | $24.8B | – |
| P/E (trailing) | 38.4 | – |
| 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 | SOFI | SPY |
|---|---|---|
| 2022 | -70.8% | -18.2% |
| 2023 | +115.8% | +26.2% |
| 2024 | +54.8% | +24.9% |
| 2025 | +70.0% | +17.7% |
| 2026 | -26.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SOFI and SPY good diversifiers for each other?
To a limited degree. At 0.62 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 SOFI and SPY?
As of 2026-08-27, the correlation of weekly returns between SOFI and SPY is 0.62 over 3 years, 0.58 over 1 year and 0.55 over 5 years.
Is SPY a good diversifier for SOFI?
To a limited degree. At 0.62 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 0.62 mean?
On the −1 to +1 scale, 0.62 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: SOFI correlations · SPY correlations
