SPY vs TATT: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and TAT Technologies Ltd. (TATT) trade together? Their weekly returns over three years give a correlation of 0.25, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TATT?
Across a 3-year window, the weekly returns of SPY and TATT correlate at 0.25, weak. Little has changed lately, as the 1-year reading of 0.22 lands near the 3-year figure. Stretching to 5 years gives 0.28, with an annualized covariance of 185.8 %².
Within SPY's tracked universe of 4755 assets, TATT comes in at #2774 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 19.9 points (+20.6% versus +0.7%). Risk is not evenly split, since TATT carries 3.6 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 TATT: side by side
| SPY (SPDR S&P 500 ETF Trust) | TATT (TAT Technologies Ltd.) | |
|---|---|---|
| 1-year return | +20.6% | +0.7% |
| 5-year return | +82.4% | +532.6% |
| Volatility (ann.) | 14.5% | 52.0% |
| Beta vs S&P 500 | 1.00 | 0.89 |
| Max drawdown (3Y) | -18.8% | -47.5% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | 24.6 |
| 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 | TATT |
|---|---|---|
| 2022 | -18.2% | -16.0% |
| 2023 | +26.2% | +91.5% |
| 2024 | +24.9% | +153.0% |
| 2025 | +17.7% | +73.9% |
| 2026 | +13.7% | -16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TATT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and TATT?
As of 2026-08-27, the correlation of weekly returns between SPY and TATT is 0.25 over 3 years, 0.22 over 1 year and 0.28 over 5 years.
Is TATT a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.25 mean?
On the −1 to +1 scale, 0.25 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
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Related comparisons
Hubs: SPY correlations · TATT correlations
