SPY vs TECH: Correlation
SPDR S&P 500 ETF Trust (SPY) and Bio-Techne (TECH) 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 TECH?
Across a 3-year window, the weekly returns of SPY and TECH correlate at 0.31, moderate. The past 12 months show a weaker link (0.19) than the 3-year average (0.31). Stretching to 5 years gives 0.44, with an annualized covariance of 187.6 %².
Within SPY's tracked universe of 4755 assets, TECH comes in at #2121 by 3-year correlation. On 12-month performance TECH holds a 9.0-point edge, +20.6% against +29.6%. Across three years, the rolling one-year figure varied moderately, from 0.20 to 0.59. Risk is not evenly split, since TECH carries 2.9 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 TECH: side by side
| SPY (SPDR S&P 500 ETF Trust) | TECH (Bio-Techne) | |
|---|---|---|
| 1-year return | +20.6% | +29.6% |
| 5-year return | +82.4% | -41.4% |
| Volatility (ann.) | 14.5% | 41.9% |
| Beta vs S&P 500 | 1.00 | 0.90 |
| Max drawdown (3Y) | -18.8% | -48.1% |
| Market cap | – | $11.4B |
| P/E (trailing) | – | 62.5 |
| Dividend yield | 1.01% | 0.44% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | Health Care |
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 | TECH |
|---|---|---|
| 2022 | -18.2% | -35.7% |
| 2023 | +26.2% | -6.5% |
| 2024 | +24.9% | -6.2% |
| 2025 | +17.7% | -17.9% |
| 2026 | +13.7% | +23.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TECH 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 TECH?
The SPY/TECH correlation stands at 0.31 on a 3-year window (1 year: 0.19, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is TECH 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?
A reading of 0.31 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
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Related comparisons
Hubs: SPY correlations · TECH correlations
