SPY vs TISI: Correlation
SPDR S&P 500 ETF Trust (SPY) and Team, Inc. (TISI) show a near-zero relationship: their 3-year correlation of weekly returns is 0.05.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TISI?
On 3 years of weekly data the SPY/TISI correlation comes out at 0.05, near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.10 versus 0.05 over 3 years. The 5-year figure is 0.15, and annualized covariance runs at 46.1 %².
Among the 4755 assets we track against SPY, TISI ranks #4396 by 3-year correlation. Neither side won the trailing year by much: +20.6% against +23.0%. Risk is not evenly split, since TISI carries 4.8 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 TISI: side by side
| SPY (SPDR S&P 500 ETF Trust) | TISI (Team, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +23.0% |
| 5-year return | +82.4% | -43.8% |
| Volatility (ann.) | 14.5% | 70.2% |
| Beta vs S&P 500 | 1.00 | 0.22 |
| Max drawdown (3Y) | -18.8% | -50.0% |
| Market cap | – | $0.1B |
| 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 | TISI |
|---|---|---|
| 2022 | -18.2% | -51.8% |
| 2023 | +26.2% | +25.7% |
| 2024 | +24.9% | +92.1% |
| 2025 | +17.7% | +11.4% |
| 2026 | +13.7% | +69.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TISI good diversifiers for each other?
By historical standards, yes. A correlation of 0.05 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPY and TISI?
The SPY/TISI correlation stands at 0.05 on a 3-year window (1 year: -0.10, 5 years: 0.15), computed from weekly returns as of 2026-08-27.
Is TISI a good diversifier for SPY?
By historical standards, yes. A correlation of 0.05 means the two rarely move for the same reasons.
What does a correlation of 0.05 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-tisi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-tisi/)
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Related comparisons
Hubs: SPY correlations · TISI correlations
