SPY vs SSNC: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and SS&C Technologies Holdings, Inc. (SSNC) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and SSNC?
On 3 years of weekly data the SPY/SSNC correlation comes out at 0.51, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.38 versus 0.51 over 3 years. The 5-year figure is 0.63, and annualized covariance runs at 170.9 %².
Within SPY's tracked universe of 4755 assets, SSNC comes in at #438 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 26.0 points (+20.6% versus -5.4%). Note the risk asymmetry: SSNC runs 1.6 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 SSNC: side by side
| SPY (SPDR S&P 500 ETF Trust) | SSNC (SS&C Technologies Holdings, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -5.4% |
| 5-year return | +82.4% | +17.5% |
| Volatility (ann.) | 14.5% | 23.0% |
| Beta vs S&P 500 | 1.00 | 0.82 |
| Max drawdown (3Y) | -18.8% | -30.4% |
| Market cap | – | $19.6B |
| P/E (trailing) | – | 23.8 |
| Dividend yield | 1.01% | 1.30% |
| 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 | SSNC |
|---|---|---|
| 2022 | -18.2% | -35.7% |
| 2023 | +26.2% | +19.2% |
| 2024 | +24.9% | +25.8% |
| 2025 | +17.7% | +16.8% |
| 2026 | +13.7% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and SSNC good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SPY and SSNC?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.38 over the last year and 0.63 over 5 years.
Is SSNC a good diversifier for SPY?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-ssnc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-ssnc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · SSNC correlations
