SPY vs SSP: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and E.W. Scripps Company (The) (SSP) carry a correlation of 0.04, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and SSP?
Across a 3-year window, the weekly returns of SPY and SSP correlate at 0.04, near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.03 over 1 year against 0.04 over 3. Stretching to 5 years gives 0.14, with an annualized covariance of 56.0 %².
Among the 4755 assets we track against SPY, SSP ranks #4456 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SSP outperformed by 16.7 percentage points (+20.6% for SPY against +37.3% for SSP). Risk is not evenly split, since SSP carries 7.4 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.
SPY vs SSP: side by side
| SPY (SPDR S&P 500 ETF Trust) | SSP (E.W. Scripps Company (The)) | |
|---|---|---|
| 1-year return | +20.6% | +37.3% |
| 5-year return | +82.4% | -77.0% |
| Volatility (ann.) | 14.5% | 107.0% |
| Beta vs S&P 500 | 1.00 | 0.27 |
| Max drawdown (3Y) | -18.8% | -84.5% |
| Market cap | – | $0.3B |
| 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 |
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 | SSP |
|---|---|---|
| 2022 | -18.2% | -31.8% |
| 2023 | +26.2% | -39.4% |
| 2024 | +24.9% | -72.3% |
| 2025 | +17.7% | +140.1% |
| 2026 | +13.7% | -20.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and SSP good diversifiers for each other?
Yes. With a correlation of 0.04, SPY and SSP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPY and SSP?
Using weekly returns as of 2026-08-27: 0.04 over 3 years, with 0.03 over the last year and 0.14 over 5 years.
Is SSP a good diversifier for SPY?
Yes. With a correlation of 0.04, SPY and SSP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.04 mean?
A reading of 0.04 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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[](https://www.pairbook.io/pair/spy-vs-ssp/)
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Related comparisons
Hubs: SPY correlations · SSP correlations
