SPY vs SWKS: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Skyworks Solutions (SWKS) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and SWKS?
On 3 years of weekly data the SPY/SWKS correlation comes out at 0.52, moderate. The past 12 months show a weaker link (0.40) than the 3-year average (0.52). The 5-year figure is 0.59, and annualized covariance runs at 299.6 %².
By 3-year correlation, SWKS places #398 of the 4755 assets tracked against SPY. Correlation aside, the last 12 months split them widely, with SPY ahead by 29.3 points (+20.6% versus -8.7%). The rolling one-year correlation moved between 0.35 and 0.72 over the past three years, a moderate range. Note the risk asymmetry: SWKS runs 2.8 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 SWKS: side by side
| SPY (SPDR S&P 500 ETF Trust) | SWKS (Skyworks Solutions) | |
|---|---|---|
| 1-year return | +20.6% | -8.7% |
| 5-year return | +82.4% | -58.3% |
| Volatility (ann.) | 14.5% | 40.0% |
| Beta vs S&P 500 | 1.00 | 1.43 |
| Max drawdown (3Y) | -18.8% | -58.2% |
| Market cap | – | $10.1B |
| P/E (trailing) | – | 34.9 |
| Dividend yield | 1.01% | 4.26% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | Information Technology |
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 | SWKS |
|---|---|---|
| 2022 | -18.2% | -39.9% |
| 2023 | +26.2% | +26.5% |
| 2024 | +24.9% | -18.9% |
| 2025 | +17.7% | -25.5% |
| 2026 | +13.7% | +8.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and SWKS good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between SPY and SWKS?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.40 over the last year and 0.59 over 5 years.
Is SWKS a good diversifier for SPY?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 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
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-swks.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-swks/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPY correlations · SWKS correlations
