SOUN vs SPY: Correlation
SoundHound AI, Inc. (SOUN) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SOUN and SPY?
Over the past 3 years, SOUN and SPY moved with a correlation of 0.42, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.64 versus 0.42 over 3 years. Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 699.8 %².
By 3-year correlation, SPY places #7 of the 13 assets tracked against SOUN. Correlation aside, the last 12 months split them widely, with SPY ahead by 60.0 points (-39.4% versus +20.6%). One caveat on sizing: SOUN is 7.9 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.
SOUN vs SPY: side by side
| SOUN (SoundHound AI, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -39.4% | +20.6% |
| 5-year return | -3.7% | +82.4% |
| Volatility (ann.) | 114.8% | 14.5% |
| Beta vs S&P 500 | 3.35 | 1.00 |
| Max drawdown (3Y) | -76.5% | -18.8% |
| Market cap | $3.2B | – |
| 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 | SOUN | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | +19.8% | +26.2% |
| 2024 | +835.8% | +24.9% |
| 2025 | -49.7% | +17.7% |
| 2026 | -27.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SOUN and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SOUN and SPY?
The SOUN/SPY correlation stands at 0.42 on a 3-year window (1 year: 0.64, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for SOUN?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/soun-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/soun-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SOUN correlations · SPY correlations
