SPY vs SVCO: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Silvaco Group, Inc. (SVCO) trade together? Their weekly returns over three years give a correlation of 0.26, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and SVCO?
Over the past 3 years, SPY and SVCO moved with a correlation of 0.26, which is weak. The link has loosened recently: the 1-year correlation (0.03) runs below the 3-year figure (0.26). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 306.4 %².
By 3-year correlation, SVCO places #2672 of the 4755 assets tracked against SPY. The last year tells two different stories: SVCO led by 26.6 percentage points, +20.6% for SPY against +47.2% for SVCO. Note the risk asymmetry: SVCO runs 5.5 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 SVCO: side by side
| SPY (SPDR S&P 500 ETF Trust) | SVCO (Silvaco Group, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +47.2% |
| 5-year return | +82.4% | n/a |
| Volatility (ann.) | 14.5% | 80.2% |
| Beta vs S&P 500 | 1.00 | 1.47 |
| Max drawdown (3Y) | -18.8% | -83.8% |
| Market cap | – | $0.2B |
| 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 | SVCO |
|---|---|---|
| 2022 | -18.2% | – |
| 2023 | +26.2% | – |
| 2024 | +24.9% | – |
| 2025 | +17.7% | -49.9% |
| 2026 | +13.7% | +78.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and SVCO good diversifiers for each other?
Reasonably. At 0.26, SPY and SVCO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and SVCO?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with 0.03 over the last year and n/a over 5 years.
Is SVCO a good diversifier for SPY?
Reasonably. At 0.26, SPY and SVCO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 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-svco.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-svco/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · SVCO correlations
