SPY vs TSCO: Correlation
SPDR S&P 500 ETF Trust (SPY) and Tractor Supply (TSCO) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TSCO?
Across a 3-year window, the weekly returns of SPY and TSCO correlate at 0.34, moderate. The link has loosened recently: the 1-year correlation (0.21) runs below the 3-year figure (0.34). Stretching to 5 years gives 0.40, with an annualized covariance of 140.2 %².
By 3-year correlation, TSCO places #1811 of the 4755 assets tracked against SPY. The last year tells two different stories: SPY led by 63.6 percentage points, +20.6% for SPY against -43.0% for TSCO. The rolling one-year correlation moved between 0.18 and 0.54 over the past three years, a moderate range. Risk is not evenly split, since TSCO carries 2.0 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 TSCO: side by side
| SPY (SPDR S&P 500 ETF Trust) | TSCO (Tractor Supply) | |
|---|---|---|
| 1-year return | +20.6% | -43.0% |
| 5-year return | +82.4% | -1.7% |
| Volatility (ann.) | 14.5% | 28.5% |
| Beta vs S&P 500 | 1.00 | 0.67 |
| Max drawdown (3Y) | -18.8% | -52.7% |
| Market cap | – | $18.1B |
| P/E (trailing) | – | 18.3 |
| Dividend yield | 1.01% | 2.68% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | Consumer Discretionary |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | TSCO |
|---|---|---|
| 2022 | -18.2% | -4.0% |
| 2023 | +26.2% | -2.6% |
| 2024 | +24.9% | +25.4% |
| 2025 | +17.7% | -4.2% |
| 2026 | +13.7% | -29.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TSCO good diversifiers for each other?
Reasonably. At 0.34, SPY and TSCO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and TSCO?
As of 2026-08-27, the correlation of weekly returns between SPY and TSCO is 0.34 over 3 years, 0.21 over 1 year and 0.40 over 5 years.
Is TSCO a good diversifier for SPY?
Reasonably. At 0.34, SPY and TSCO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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-tsco.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-tsco/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · TSCO correlations
