SPY vs TASK: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and TaskUs, Inc. (TASK) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TASK?
Over the past 3 years, SPY and TASK moved with a correlation of 0.32, which is moderate. The link has tightened recently: the 1-year correlation (0.45) runs above the 3-year figure (0.32). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 270.6 %².
Among the 4755 assets we track against SPY, TASK ranks #2013 by 3-year correlation. The last year tells two different stories: SPY led by 48.2 percentage points, +20.6% for SPY against -27.6% for TASK. One caveat on sizing: TASK is 4.0 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 TASK: side by side
| SPY (SPDR S&P 500 ETF Trust) | TASK (TaskUs, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -27.6% |
| 5-year return | +82.4% | -78.6% |
| Volatility (ann.) | 14.5% | 58.0% |
| Beta vs S&P 500 | 1.00 | 1.30 |
| Max drawdown (3Y) | -18.8% | -63.0% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 6.7 |
| 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 | TASK |
|---|---|---|
| 2022 | -18.2% | -68.7% |
| 2023 | +26.2% | -22.7% |
| 2024 | +24.9% | +29.6% |
| 2025 | +17.7% | -30.4% |
| 2026 | +13.7% | +6.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TASK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and TASK?
As of 2026-08-27, the correlation of weekly returns between SPY and TASK is 0.32 over 3 years, 0.45 over 1 year and 0.44 over 5 years.
Is TASK a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 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-task.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-task/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · TASK correlations
