SPY vs ST: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Sensata Technologies Holding plc (ST) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and ST?
Over the past 3 years, SPY and ST moved with a correlation of 0.52, which is moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 272.1 %².
By 3-year correlation, ST places #397 of the 4755 assets tracked against SPY. Over the last 12 months ST came out ahead by 7.7 percentage points (+20.6% against +28.3%). One caveat on sizing: ST is 2.5 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 ST: side by side
| SPY (SPDR S&P 500 ETF Trust) | ST (Sensata Technologies Holding plc) | |
|---|---|---|
| 1-year return | +20.6% | +28.3% |
| 5-year return | +82.4% | -25.4% |
| Volatility (ann.) | 14.5% | 36.0% |
| Beta vs S&P 500 | 1.00 | 1.30 |
| Max drawdown (3Y) | -18.8% | -58.4% |
| Market cap | – | $6.2B |
| P/E (trailing) | – | 68.5 |
| Dividend yield | 1.01% | 1.13% |
| 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 | ST |
|---|---|---|
| 2022 | -18.2% | -34.0% |
| 2023 | +26.2% | -5.9% |
| 2024 | +24.9% | -26.1% |
| 2025 | +17.7% | +23.5% |
| 2026 | +13.7% | +28.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and ST good diversifiers for each other?
Only partially. A correlation of 0.52 means SPY and ST share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between SPY and ST?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.46 over the last year and 0.57 over 5 years.
Is ST a good diversifier for SPY?
Only partially. A correlation of 0.52 means SPY and ST share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 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-st.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-st/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPY correlations · ST correlations
