SPY vs TDAY: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and USA TODAY Co., Inc. (TDAY) carry a correlation of 0.19, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TDAY?
On 3 years of weekly data the SPY/TDAY correlation comes out at 0.19, weak. Little has changed lately, as the 1-year reading of 0.12 lands near the 3-year figure. The 5-year figure is 0.28, and annualized covariance runs at 164.3 %².
Among the 4755 assets we track against SPY, TDAY ranks #3393 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TDAY outperformed by 35.5 percentage points (+20.6% for SPY against +56.1% for TDAY). Note the risk asymmetry: TDAY runs 4.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TDAY: side by side
| SPY (SPDR S&P 500 ETF Trust) | TDAY (USA TODAY Co., Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +56.1% |
| 5-year return | +82.4% | -0.3% |
| Volatility (ann.) | 14.5% | 58.6% |
| Beta vs S&P 500 | 1.00 | 0.79 |
| Max drawdown (3Y) | -18.8% | -54.6% |
| Market cap | – | $0.9B |
| 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 | TDAY |
|---|---|---|
| 2022 | -18.2% | -61.9% |
| 2023 | +26.2% | +13.3% |
| 2024 | +24.9% | +120.0% |
| 2025 | +17.7% | +1.8% |
| 2026 | +13.7% | +24.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TDAY good diversifiers for each other?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SPY and TDAY?
The SPY/TDAY correlation stands at 0.19 on a 3-year window (1 year: 0.12, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is TDAY a good diversifier for SPY?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.19 mean?
On the −1 to +1 scale, 0.19 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-tday.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-tday/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPY correlations · TDAY correlations
