SPY vs TPR: Correlation
SPDR S&P 500 ETF Trust (SPY) and Tapestry, Inc. (TPR) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TPR?
Across a 3-year window, the weekly returns of SPY and TPR correlate at 0.40, moderate. The link has loosened recently: the 1-year correlation (0.26) runs below the 3-year figure (0.40). Stretching to 5 years gives 0.50, with an annualized covariance of 218.8 %².
Within SPY's tracked universe of 4755 assets, TPR comes in at #1185 by 3-year correlation. Twelve-month performance is nearly a tie, at +20.6% for SPY and +23.6% for TPR. On a rolling one-year basis the correlation drifted between 0.29 and 0.63, a moderate band. One caveat on sizing: TPR is 2.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 TPR: side by side
| SPY (SPDR S&P 500 ETF Trust) | TPR (Tapestry, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +23.6% |
| 5-year return | +82.4% | +240.1% |
| Volatility (ann.) | 14.5% | 37.8% |
| Beta vs S&P 500 | 1.00 | 1.05 |
| Max drawdown (3Y) | -18.8% | -31.8% |
| Market cap | – | $24.6B |
| P/E (trailing) | – | 17.9 |
| Dividend yield | 1.01% | 1.23% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | Consumer Discretionary |
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 | TPR |
|---|---|---|
| 2022 | -18.2% | -3.3% |
| 2023 | +26.2% | +0.2% |
| 2024 | +24.9% | +82.8% |
| 2025 | +17.7% | +98.7% |
| 2026 | +13.7% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TPR good diversifiers for each other?
Reasonably. At 0.40, SPY and TPR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and TPR?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.26 over the last year and 0.50 over 5 years.
Is TPR a good diversifier for SPY?
Reasonably. At 0.40, SPY and TPR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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-tpr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-tpr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · TPR correlations
