SPY vs STVN: Correlation
SPDR S&P 500 ETF Trust (SPY) and Stevanato Group S.p.A. (STVN) show a weak relationship: their 3-year correlation of weekly returns is 0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and STVN?
Across a 3-year window, the weekly returns of SPY and STVN correlate at 0.25, weak. The link has tightened recently: the 1-year correlation (0.48) runs above the 3-year figure (0.25). Stretching to 5 years gives 0.31, with an annualized covariance of 167.2 %².
Among the 4755 assets we track against SPY, STVN ranks #2773 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 20.7 percentage points (+20.6% for SPY against -0.1% for STVN). One caveat on sizing: STVN is 3.3 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 STVN: side by side
| SPY (SPDR S&P 500 ETF Trust) | STVN (Stevanato Group S.p.A.) | |
|---|---|---|
| 1-year return | +20.6% | -0.1% |
| 5-year return | +82.4% | -6.9% |
| Volatility (ann.) | 14.5% | 47.2% |
| Beta vs S&P 500 | 1.00 | 0.80 |
| Max drawdown (3Y) | -18.8% | -61.0% |
| Market cap | – | $6.1B |
| P/E (trailing) | – | 39.1 |
| Dividend yield | 1.01% | 0.00% |
| 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 | STVN |
|---|---|---|
| 2022 | -18.2% | -19.7% |
| 2023 | +26.2% | +52.2% |
| 2024 | +24.9% | -19.9% |
| 2025 | +17.7% | -7.4% |
| 2026 | +13.7% | +11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and STVN good diversifiers for each other?
Reasonably. At 0.25, SPY and STVN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and STVN?
Using weekly returns as of 2026-08-27: 0.25 over 3 years, with 0.48 over the last year and 0.31 over 5 years.
Is STVN a good diversifier for SPY?
Reasonably. At 0.25, SPY and STVN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.25 mean?
On the −1 to +1 scale, 0.25 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-stvn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-stvn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · STVN correlations
