SPY vs TRV: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Travelers Companies (The) (TRV) trade together? Their weekly returns over three years give a correlation of 0.25, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TRV?
Across a 3-year window, the weekly returns of SPY and TRV correlate at 0.25, weak. The past 12 months show a weaker link (0.03) than the 3-year average (0.25). Stretching to 5 years gives 0.35, with an annualized covariance of 74.8 %².
By 3-year correlation, TRV places #2777 of the 4755 assets tracked against SPY. Correlation aside, the last 12 months split them widely, with TRV ahead by 17.2 points (+20.6% versus +37.8%). Across three years, the rolling one-year figure varied moderately, from 0.01 to 0.43.
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 TRV: side by side
| SPY (SPDR S&P 500 ETF Trust) | TRV (Travelers Companies (The)) | |
|---|---|---|
| 1-year return | +20.6% | +37.8% |
| 5-year return | +82.4% | +155.3% |
| Volatility (ann.) | 14.5% | 20.8% |
| Beta vs S&P 500 | 1.00 | 0.36 |
| Max drawdown (3Y) | -18.8% | -12.5% |
| Market cap | – | $77.0B |
| P/E (trailing) | – | 10.0 |
| Dividend yield | 1.01% | 1.23% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | Financials |
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 | TRV |
|---|---|---|
| 2022 | -18.2% | +22.4% |
| 2023 | +26.2% | +3.9% |
| 2024 | +24.9% | +28.8% |
| 2025 | +17.7% | +22.4% |
| 2026 | +13.7% | +28.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
TRV represents 0.12% of SPY's portfolio, so part of any move in SPY is TRV itself, and the correlation between them is partly mechanical.
Are SPY and TRV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and TRV?
As of 2026-08-27, the correlation of weekly returns between SPY and TRV is 0.25 over 3 years, 0.03 over 1 year and 0.35 over 5 years.
Is TRV a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.25 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-trv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-trv/)
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Related comparisons
Hubs: SPY correlations · TRV correlations
