SPY vs SUPX: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and SuperX AI Technology Limited (SUPX) carry a correlation of 0.00, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and SUPX?
Over the past 3 years, SPY and SUPX moved with a correlation of 0.00, which is near zero, meaning they move largely independently. Lately the two have moved closer together, with the 1-year correlation at 0.21 versus 0.00 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 1.6 %².
Among the 4755 assets we track against SPY, SUPX ranks #4599 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 97.6 percentage points (+20.6% for SPY against -77.0% for SUPX). Risk is not evenly split, since SUPX carries 8.0 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 SUPX: side by side
| SPY (SPDR S&P 500 ETF Trust) | SUPX (SuperX AI Technology Limited) | |
|---|---|---|
| 1-year return | +20.6% | -77.0% |
| 5-year return | +82.4% | n/a |
| Volatility (ann.) | 14.5% | 115.6% |
| Beta vs S&P 500 | 1.00 | 0.01 |
| Max drawdown (3Y) | -18.8% | -92.3% |
| Market cap | – | $0.4B |
| 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 |
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 | SUPX |
|---|---|---|
| 2022 | -18.2% | – |
| 2023 | +26.2% | – |
| 2024 | +24.9% | – |
| 2025 | +17.7% | +318.1% |
| 2026 | +13.7% | -37.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and SUPX good diversifiers for each other?
Yes: at 0.00, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SPY and SUPX?
The SPY/SUPX correlation stands at 0.00 on a 3-year window (1 year: 0.21, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SUPX a good diversifier for SPY?
Yes: at 0.00, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.00 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
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[](https://www.pairbook.io/pair/spy-vs-supx/)
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Related comparisons
Hubs: SPY correlations · SUPX correlations
