SPY vs SSM: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Sono Group N.V. (SSM) carry a correlation of 0.01, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and SSM?
Across a 3-year window, the weekly returns of SPY and SSM correlate at 0.01, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (-0.02) sits close to the 3-year figure. Stretching to 5 years gives 0.02, with an annualized covariance of 117.5 %².
Within SPY's tracked universe of 4755 assets, SSM comes in at #4575 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 71.1 points (+20.6% versus -50.5%). Note the risk asymmetry: SSM runs 83.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SSM: side by side
| SPY (SPDR S&P 500 ETF Trust) | SSM (Sono Group N.V.) | |
|---|---|---|
| 1-year return | +20.6% | -50.5% |
| 5-year return | +82.4% | -99.9% |
| Volatility (ann.) | 14.5% | 1204.8% |
| Beta vs S&P 500 | 1.00 | 0.56 |
| Max drawdown (3Y) | -18.8% | -99.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.01% | 0.00% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
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 | SPY | SSM |
|---|---|---|
| 2022 | -18.2% | -89.8% |
| 2023 | +26.2% | -93.9% |
| 2024 | +24.9% | -16.7% |
| 2025 | +17.7% | +86.7% |
| 2026 | +13.7% | -61.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and SSM good diversifiers for each other?
By historical standards, yes. A correlation of 0.01 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPY and SSM?
Using weekly returns as of 2026-08-27: 0.01 over 3 years, with -0.02 over the last year and 0.02 over 5 years.
Is SSM a good diversifier for SPY?
By historical standards, yes. A correlation of 0.01 means the two rarely move for the same reasons.
What does a correlation of 0.01 mean?
On the −1 to +1 scale, 0.01 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/spy-vs-ssm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-ssm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · SSM correlations
