SPY vs TTMI: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and TTM Technologies, Inc. (TTMI) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TTMI?
Over the past 3 years, SPY and TTMI moved with a correlation of 0.53, which is moderate. The past 12 months show a weaker link (0.42) than the 3-year average (0.53). Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 465.4 %².
By 3-year correlation, TTMI places #362 of the 4755 assets tracked against SPY. Correlation aside, the last 12 months split them widely, with TTMI ahead by 159.7 points (+20.6% versus +180.3%). One caveat on sizing: TTMI is 4.2 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 TTMI: side by side
| SPY (SPDR S&P 500 ETF Trust) | TTMI (TTM Technologies, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +180.3% |
| 5-year return | +82.4% | +785.9% |
| Volatility (ann.) | 14.5% | 60.7% |
| Beta vs S&P 500 | 1.00 | 2.23 |
| Max drawdown (3Y) | -18.8% | -54.0% |
| Market cap | – | $13.1B |
| P/E (trailing) | – | 54.9 |
| Dividend yield | 1.01% | 0.00% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
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 | TTMI |
|---|---|---|
| 2022 | -18.2% | +1.2% |
| 2023 | +26.2% | +4.8% |
| 2024 | +24.9% | +56.5% |
| 2025 | +17.7% | +178.8% |
| 2026 | +13.7% | +80.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TTMI good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SPY and TTMI?
The SPY/TTMI correlation stands at 0.53 on a 3-year window (1 year: 0.42, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is TTMI a good diversifier for SPY?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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-ttmi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-ttmi/)
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Related comparisons
Hubs: SPY correlations · TTMI correlations
