SPY vs SYPR: Correlation
SPDR S&P 500 ETF Trust (SPY) and Sypris Solutions, Inc. (SYPR) 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 SYPR?
On 3 years of weekly data the SPY/SYPR correlation comes out at 0.14, weak. Lately the two have moved closer together, with the 1-year correlation at 0.32 versus 0.14 over 3 years. The 5-year figure is 0.17, and annualized covariance runs at 121.6 %².
Within SPY's tracked universe of 4755 assets, SYPR comes in at #3819 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 35.1 points (+20.6% versus -14.5%). One caveat on sizing: SYPR is 4.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 SYPR: side by side
| SPY (SPDR S&P 500 ETF Trust) | SYPR (Sypris Solutions, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -14.5% |
| 5-year return | +82.4% | -55.9% |
| Volatility (ann.) | 14.5% | 59.0% |
| Beta vs S&P 500 | 1.00 | 0.58 |
| Max drawdown (3Y) | -18.8% | -59.1% |
| 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 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 | SYPR |
|---|---|---|
| 2022 | -18.2% | -16.7% |
| 2023 | +26.2% | -1.0% |
| 2024 | +24.9% | -12.3% |
| 2025 | +17.7% | +37.1% |
| 2026 | +13.7% | -29.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and SYPR 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 SYPR?
The SPY/SYPR correlation stands at 0.14 on a 3-year window (1 year: 0.32, 5 years: 0.17), computed from weekly returns as of 2026-08-27.
Is SYPR 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-sypr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-sypr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · SYPR correlations
