SPY vs STNG: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Scorpio Tankers Inc. (STNG) trade together? Their weekly returns over three years give a correlation of 0.16, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and STNG?
Across a 3-year window, the weekly returns of SPY and STNG correlate at 0.16, weak. The relationship has been stable: the 1-year correlation (0.09) sits close to the 3-year figure. Stretching to 5 years gives 0.13, with an annualized covariance of 87.0 %².
Among the 4755 assets we track against SPY, STNG ranks #3646 by 3-year correlation. Correlation aside, the last 12 months split them widely, with STNG ahead by 37.7 points (+20.6% versus +58.3%). Risk is not evenly split, since STNG carries 2.5 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 STNG: side by side
| SPY (SPDR S&P 500 ETF Trust) | STNG (Scorpio Tankers Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +58.3% |
| 5-year return | +82.4% | +454.0% |
| Volatility (ann.) | 14.5% | 36.8% |
| Beta vs S&P 500 | 1.00 | 0.42 |
| Max drawdown (3Y) | -18.8% | -61.0% |
| Market cap | – | $3.9B |
| P/E (trailing) | – | 4.7 |
| Dividend yield | 1.01% | 2.30% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
SPY, State Street Investment Management's Large Blend fund, carries $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | STNG |
|---|---|---|
| 2022 | -18.2% | +325.5% |
| 2023 | +26.2% | +15.4% |
| 2024 | +24.9% | -16.3% |
| 2025 | +17.7% | +5.3% |
| 2026 | +13.7% | +55.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and STNG good diversifiers for each other?
By historical standards, yes. A correlation of 0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPY and STNG?
Using weekly returns as of 2026-08-27: 0.16 over 3 years, with 0.09 over the last year and 0.13 over 5 years.
Is STNG a good diversifier for SPY?
By historical standards, yes. A correlation of 0.16 means the two rarely move for the same reasons.
What does a correlation of 0.16 mean?
On the −1 to +1 scale, 0.16 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-stng.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-stng/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · STNG correlations
