SPY vs SYNX: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Silynxcom Ltd. (SYNX) carry a correlation of 0.20, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and SYNX?
Over the past 3 years, SPY and SYNX moved with a correlation of 0.20, which is weak. Recent behaviour matches the longer record: 0.14 over 1 year against 0.20 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 259.3 %².
Among the 4755 assets we track against SPY, SYNX ranks #3286 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 59.6 percentage points (+20.6% for SPY against -39.0% for SYNX). Risk is not evenly split, since SYNX carries 6.3 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 SYNX: side by side
| SPY (SPDR S&P 500 ETF Trust) | SYNX (Silynxcom Ltd.) | |
|---|---|---|
| 1-year return | +20.6% | -39.0% |
| 5-year return | +82.4% | n/a |
| Volatility (ann.) | 14.5% | 91.1% |
| Beta vs S&P 500 | 1.00 | 1.24 |
| Max drawdown (3Y) | -18.8% | -84.7% |
| Market cap | – | – |
| 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, 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 | SYNX |
|---|---|---|
| 2022 | -18.2% | – |
| 2023 | +26.2% | – |
| 2024 | +24.9% | – |
| 2025 | +17.7% | -70.4% |
| 2026 | +13.7% | -5.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and SYNX good diversifiers for each other?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and SYNX?
As of 2026-08-27, the correlation of weekly returns between SPY and SYNX is 0.20 over 3 years, 0.14 over 1 year and n/a over 5 years.
Is SYNX a good diversifier for SPY?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.20 mean?
A reading of 0.20 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-synx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-synx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPY correlations · SYNX correlations
