SPY vs STX: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Seagate Technology (STX) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and STX?
Over the past 3 years, SPY and STX moved with a correlation of 0.55, which is moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 410.8 %².
Among the 4755 assets we track against SPY, STX ranks #287 by 3-year correlation. Correlation aside, the last 12 months split them widely, with STX ahead by 390.2 points (+20.6% versus +410.8%). Across three years, the rolling one-year figure varied moderately, from 0.48 to 0.78. Risk is not evenly split, since STX carries 3.5 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 STX: side by side
| SPY (SPDR S&P 500 ETF Trust) | STX (Seagate Technology) | |
|---|---|---|
| 1-year return | +20.6% | +410.8% |
| 5-year return | +82.4% | +1032.5% |
| Volatility (ann.) | 14.5% | 51.3% |
| Beta vs S&P 500 | 1.00 | 1.97 |
| Max drawdown (3Y) | -18.8% | -40.0% |
| Market cap | – | $192.0B |
| P/E (trailing) | – | 61.0 |
| Dividend yield | 1.01% | 0.35% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | Information Technology |
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 | STX |
|---|---|---|
| 2022 | -18.2% | -51.4% |
| 2023 | +26.2% | +69.1% |
| 2024 | +24.9% | +4.1% |
| 2025 | +17.7% | +225.3% |
| 2026 | +13.7% | +208.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
STX represents 0.29% of SPY's portfolio, so part of any move in SPY is STX itself, and the correlation between them is partly mechanical.
Are SPY and STX good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SPY and STX?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.49 over the last year and 0.57 over 5 years.
Is STX a good diversifier for SPY?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
A reading of 0.55 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
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-stx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-stx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · STX correlations
