SPY vs SRAD: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Sportradar Group AG - Class A (SRAD) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and SRAD?
Across a 3-year window, the weekly returns of SPY and SRAD correlate at 0.33, moderate. The past 12 months show a weaker link (0.16) than the 3-year average (0.33). Stretching to 5 years gives 0.46, with an annualized covariance of 203.1 %².
Among the 4755 assets we track against SPY, SRAD ranks #1904 by 3-year correlation. The last year tells two different stories: SPY led by 79.8 percentage points, +20.6% for SPY against -59.2% for SRAD. One caveat on sizing: SRAD is 2.9 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.
SPY vs SRAD: side by side
| SPY (SPDR S&P 500 ETF Trust) | SRAD (Sportradar Group AG - Class A) | |
|---|---|---|
| 1-year return | +20.6% | -59.2% |
| 5-year return | +82.4% | -49.0% |
| Volatility (ann.) | 14.5% | 42.2% |
| Beta vs S&P 500 | 1.00 | 0.97 |
| Max drawdown (3Y) | -18.8% | -61.2% |
| Market cap | – | $3.8B |
| P/E (trailing) | – | 213.0 |
| Dividend yield | 1.01% | 0.00% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
On the fund side, SPY sits in the Large Blend category at State Street Investment Management, with $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | SRAD |
|---|---|---|
| 2022 | -18.2% | -43.3% |
| 2023 | +26.2% | +10.9% |
| 2024 | +24.9% | +56.9% |
| 2025 | +17.7% | +37.1% |
| 2026 | +13.7% | -46.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and SRAD good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and SRAD?
The SPY/SRAD correlation stands at 0.33 on a 3-year window (1 year: 0.16, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is SRAD a good diversifier for SPY?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: SPY correlations · SRAD correlations
