SPY vs TKR: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Timken Company (The) (TKR) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TKR?
Over the past 3 years, SPY and TKR moved with a correlation of 0.52, which is moderate. The past 12 months show a weaker link (0.31) than the 3-year average (0.52). Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 205.6 %².
By 3-year correlation, TKR places #400 of the 4755 assets tracked against SPY. The last year tells two different stories: TKR led by 39.2 percentage points, +20.6% for SPY against +59.8% for TKR. Note the risk asymmetry: TKR runs 1.9 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 TKR: side by side
| SPY (SPDR S&P 500 ETF Trust) | TKR (Timken Company (The)) | |
|---|---|---|
| 1-year return | +20.6% | +59.8% |
| 5-year return | +82.4% | +80.3% |
| Volatility (ann.) | 14.5% | 27.4% |
| Beta vs S&P 500 | 1.00 | 0.98 |
| Max drawdown (3Y) | -18.8% | -37.6% |
| Market cap | – | $8.6B |
| P/E (trailing) | – | 33.7 |
| Dividend yield | 1.01% | 1.12% |
| 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 | TKR |
|---|---|---|
| 2022 | -18.2% | +3.9% |
| 2023 | +26.2% | +15.4% |
| 2024 | +24.9% | -9.5% |
| 2025 | +17.7% | +20.0% |
| 2026 | +13.7% | +49.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TKR good diversifiers for each other?
Only partially. A correlation of 0.52 means SPY and TKR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between SPY and TKR?
As of 2026-08-27, the correlation of weekly returns between SPY and TKR is 0.52 over 3 years, 0.31 over 1 year and 0.55 over 5 years.
Is TKR a good diversifier for SPY?
Only partially. A correlation of 0.52 means SPY and TKR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
A reading of 0.52 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
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-tkr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-tkr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · TKR correlations
