SPY vs TEAD: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Te (TEAD) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TEAD?
On 3 years of weekly data the SPY/TEAD correlation comes out at 0.27, weak. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. The 5-year figure is 0.35, and annualized covariance runs at 277.4 %².
Within SPY's tracked universe of 4755 assets, TEAD comes in at #2581 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 94.2 percentage points (+20.6% for SPY against -73.6% for TEAD). One caveat on sizing: TEAD is 4.9 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 TEAD: side by side
| SPY (SPDR S&P 500 ETF Trust) | TEAD (Te) | |
|---|---|---|
| 1-year return | +20.6% | -73.6% |
| 5-year return | +82.4% | -97.2% |
| Volatility (ann.) | 14.5% | 71.3% |
| Beta vs S&P 500 | 1.00 | 1.33 |
| Max drawdown (3Y) | -18.8% | -93.8% |
| Market cap | – | – |
| 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 | TEAD |
|---|---|---|
| 2022 | -18.2% | -74.1% |
| 2023 | +26.2% | +21.0% |
| 2024 | +24.9% | +63.9% |
| 2025 | +17.7% | -90.2% |
| 2026 | +13.7% | -33.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TEAD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and TEAD?
As of 2026-08-27, the correlation of weekly returns between SPY and TEAD is 0.27 over 3 years, 0.37 over 1 year and 0.35 over 5 years.
Is TEAD a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-tead.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-tead/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPY correlations · TEAD correlations
