SPY vs TFIN: Correlation
SPDR S&P 500 ETF Trust (SPY) and Triumph Financial, Inc. (TFIN) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TFIN?
Over the past 3 years, SPY and TFIN moved with a correlation of 0.44, which is moderate. The past 12 months show a weaker link (0.26) than the 3-year average (0.44). Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 270.9 %².
Within SPY's tracked universe of 4755 assets, TFIN comes in at #824 by 3-year correlation. Over the last 12 months SPY came out ahead by 5.1 percentage points (+20.6% against +15.5%). Note the risk asymmetry: TFIN runs 2.9 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 TFIN: side by side
| SPY (SPDR S&P 500 ETF Trust) | TFIN (Triumph Financial, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +15.5% |
| 5-year return | +82.4% | -12.0% |
| Volatility (ann.) | 14.5% | 42.5% |
| Beta vs S&P 500 | 1.00 | 1.30 |
| Max drawdown (3Y) | -18.8% | -57.6% |
| Market cap | – | $1.7B |
| P/E (trailing) | – | 49.6 |
| Dividend yield | 1.01% | 0.00% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
On the fund side, SPY sits in the Large Blend category at State Street Investment Management, with $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | TFIN |
|---|---|---|
| 2022 | -18.2% | -59.0% |
| 2023 | +26.2% | +64.1% |
| 2024 | +24.9% | +13.3% |
| 2025 | +17.7% | -31.1% |
| 2026 | +13.7% | +14.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TFIN good diversifiers for each other?
Reasonably. At 0.44, SPY and TFIN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and TFIN?
The SPY/TFIN correlation stands at 0.44 on a 3-year window (1 year: 0.26, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is TFIN a good diversifier for SPY?
Reasonably. At 0.44, SPY and TFIN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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-tfin.json
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · TFIN correlations
