SPY vs SYY: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Sysco (SYY) carry a correlation of 0.10, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and SYY?
On 3 years of weekly data the SPY/SYY correlation comes out at 0.10, weak. The past 12 months show a weaker link (-0.05) than the 3-year average (0.10). The 5-year figure is 0.36, and annualized covariance runs at 29.9 %².
Within SPY's tracked universe of 4755 assets, SYY comes in at #4114 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 15.0 percentage points (+20.6% for SPY against +5.6% for SYY). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.06 to 0.72.
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 SYY: side by side
| SPY (SPDR S&P 500 ETF Trust) | SYY (Sysco) | |
|---|---|---|
| 1-year return | +20.6% | +5.6% |
| 5-year return | +82.4% | +19.2% |
| Volatility (ann.) | 14.5% | 20.3% |
| Beta vs S&P 500 | 1.00 | 0.14 |
| Max drawdown (3Y) | -18.8% | -24.0% |
| Market cap | – | $39.5B |
| P/E (trailing) | – | 22.5 |
| Dividend yield | 1.01% | 2.61% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | Consumer Staples |
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 | SYY |
|---|---|---|
| 2022 | -18.2% | -0.3% |
| 2023 | +26.2% | -1.7% |
| 2024 | +24.9% | +7.4% |
| 2025 | +17.7% | -1.0% |
| 2026 | +13.7% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
SYY represents 0.06% of SPY's portfolio, so part of any move in SPY is SYY itself, and the correlation between them is partly mechanical.
Are SPY and SYY good diversifiers for each other?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPY and SYY?
As of 2026-08-27, the correlation of weekly returns between SPY and SYY is 0.10 over 3 years, -0.05 over 1 year and 0.36 over 5 years.
Is SYY a good diversifier for SPY?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
What does a correlation of 0.10 mean?
A reading of 0.10 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-syy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-syy/)
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Related comparisons
Hubs: SPY correlations · SYY correlations
