SPY vs TE: Correlation
SPDR S&P 500 ETF Trust (SPY) and T1 Energy Inc. (TE) show a moderate relationship: their 3-year correlation of weekly returns is 0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TE?
Across a 3-year window, the weekly returns of SPY and TE correlate at 0.31, moderate. Little has changed lately, as the 1-year reading of 0.26 lands near the 3-year figure. Stretching to 5 years gives 0.30, with an annualized covariance of 565.6 %².
By 3-year correlation, TE places #2120 of the 4755 assets tracked against SPY. Their recent paths diverged sharply: over the last 12 months TE outperformed by 193.3 percentage points (+20.6% for SPY against +213.9% for TE). Risk is not evenly split, since TE carries 8.8 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 TE: side by side
| SPY (SPDR S&P 500 ETF Trust) | TE (T1 Energy Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +213.9% |
| 5-year return | +82.4% | -44.5% |
| Volatility (ann.) | 14.5% | 127.8% |
| Beta vs S&P 500 | 1.00 | 2.71 |
| Max drawdown (3Y) | -18.8% | -85.5% |
| Market cap | – | $1.5B |
| 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 | TE |
|---|---|---|
| 2022 | -18.2% | -22.4% |
| 2023 | +26.2% | -78.5% |
| 2024 | +24.9% | +38.0% |
| 2025 | +17.7% | +158.9% |
| 2026 | +13.7% | -25.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and TE?
The SPY/TE correlation stands at 0.31 on a 3-year window (1 year: 0.26, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is TE a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 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-te.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-te/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · TE correlations
