SPY vs SUIG: Correlation
SPDR S&P 500 ETF Trust (SPY) and Sui Group Holdings Limited (SUIG) show a weak relationship: their 3-year correlation of weekly returns is 0.14.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and SUIG?
On 3 years of weekly data the SPY/SUIG correlation comes out at 0.14, weak. The link has tightened recently: the 1-year correlation (0.33) runs above the 3-year figure (0.14). The 5-year figure is 0.11, and annualized covariance runs at 335.3 %².
Within SPY's tracked universe of 4755 assets, SUIG comes in at #3817 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 104.0 points (+20.6% versus -83.4%). Note the risk asymmetry: SUIG runs 11.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SUIG: side by side
| SPY (SPDR S&P 500 ETF Trust) | SUIG (Sui Group Holdings Limited) | |
|---|---|---|
| 1-year return | +20.6% | -83.4% |
| 5-year return | +82.4% | -88.3% |
| Volatility (ann.) | 14.5% | 162.1% |
| Beta vs S&P 500 | 1.00 | 1.61 |
| Max drawdown (3Y) | -18.8% | -89.2% |
| Market cap | – | $0.1B |
| 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 |
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 | SUIG |
|---|---|---|
| 2022 | -18.2% | -75.1% |
| 2023 | +26.2% | +19.5% |
| 2024 | +24.9% | -20.3% |
| 2025 | +17.7% | -14.4% |
| 2026 | +13.7% | -38.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and SUIG good diversifiers for each other?
Yes: at 0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SPY and SUIG?
Using weekly returns as of 2026-08-27: 0.14 over 3 years, with 0.33 over the last year and 0.11 over 5 years.
Is SUIG a good diversifier for SPY?
Yes: at 0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.14 mean?
On the −1 to +1 scale, 0.14 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-suig.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-suig/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · SUIG correlations
