SPY vs TRUG: Correlation
SPDR S&P 500 ETF Trust (SPY) and TruGolf Holdings, Inc. (TRUG) show a weak relationship: their 3-year correlation of weekly returns is 0.11.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TRUG?
On 3 years of weekly data the SPY/TRUG correlation comes out at 0.11, weak. Recent behaviour matches the longer record: 0.11 over 1 year against 0.11 over 3. The 5-year figure is 0.06, and annualized covariance runs at 176.4 %².
By 3-year correlation, TRUG places #4049 of the 4755 assets tracked against SPY. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 119.2 percentage points (+20.6% for SPY against -98.6% for TRUG). Note the risk asymmetry: TRUG runs 7.9 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 TRUG: side by side
| SPY (SPDR S&P 500 ETF Trust) | TRUG (TruGolf Holdings, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -98.6% |
| 5-year return | +82.4% | -100.0% |
| Volatility (ann.) | 14.5% | 114.0% |
| Beta vs S&P 500 | 1.00 | 0.84 |
| Max drawdown (3Y) | -18.8% | -100.0% |
| Market cap | – | – |
| 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 | TRUG |
|---|---|---|
| 2022 | -18.2% | +8.1% |
| 2023 | +26.2% | +9.7% |
| 2024 | +24.9% | -94.2% |
| 2025 | +17.7% | -97.8% |
| 2026 | +13.7% | -91.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TRUG good diversifiers for each other?
Yes. With a correlation of 0.11, SPY and TRUG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPY and TRUG?
As of 2026-08-27, the correlation of weekly returns between SPY and TRUG is 0.11 over 3 years, 0.11 over 1 year and 0.06 over 5 years.
Is TRUG a good diversifier for SPY?
Yes. With a correlation of 0.11, SPY and TRUG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.11 mean?
A reading of 0.11 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-trug.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-trug/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPY correlations · TRUG correlations
