SPY vs TPCS: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and TechPrecision Corporation (TPCS) trade together? Their weekly returns over three years give a correlation of 0.15, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TPCS?
Over the past 3 years, SPY and TPCS moved with a correlation of 0.15, which is weak. The relationship has been stable: the 1-year correlation (0.25) sits close to the 3-year figure. Over 5 years the correlation is 0.09, and the annualized covariance of weekly returns is 154.1 %².
Within SPY's tracked universe of 4755 assets, TPCS comes in at #3744 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 17.1 percentage points (+20.6% for SPY against +3.5% for TPCS). Risk is not evenly split, since TPCS carries 4.9 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 TPCS: side by side
| SPY (SPDR S&P 500 ETF Trust) | TPCS (TechPrecision Corporation) | |
|---|---|---|
| 1-year return | +20.6% | +3.5% |
| 5-year return | +82.4% | -11.6% |
| Volatility (ann.) | 14.5% | 71.2% |
| Beta vs S&P 500 | 1.00 | 0.74 |
| Max drawdown (3Y) | -18.8% | -71.6% |
| 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 | TPCS |
|---|---|---|
| 2022 | -18.2% | +2.0% |
| 2023 | +26.2% | -37.4% |
| 2024 | +24.9% | -29.5% |
| 2025 | +17.7% | +32.3% |
| 2026 | +13.7% | +14.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TPCS good diversifiers for each other?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPY and TPCS?
Using weekly returns as of 2026-08-27: 0.15 over 3 years, with 0.25 over the last year and 0.09 over 5 years.
Is TPCS a good diversifier for SPY?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
What does a correlation of 0.15 mean?
On the −1 to +1 scale, 0.15 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-tpcs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-tpcs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · TPCS correlations
