SPY vs TU: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Telus Corporation (TU) trade together? Their weekly returns over three years give a correlation of 0.15, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TU?
Across a 3-year window, the weekly returns of SPY and TU correlate at 0.15, weak. Little has changed lately, as the 1-year reading of 0.18 lands near the 3-year figure. Stretching to 5 years gives 0.32, with an annualized covariance of 43.0 %².
Within SPY's tracked universe of 4755 assets, TU comes in at #3745 by 3-year correlation. The last year tells two different stories: SPY led by 58.6 percentage points, +20.6% for SPY against -38.0% for TU.
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 TU: side by side
| SPY (SPDR S&P 500 ETF Trust) | TU (Telus Corporation) | |
|---|---|---|
| 1-year return | +20.6% | -38.0% |
| 5-year return | +82.4% | -44.5% |
| Volatility (ann.) | 14.5% | 20.3% |
| Beta vs S&P 500 | 1.00 | 0.21 |
| Max drawdown (3Y) | -18.8% | -40.6% |
| Market cap | – | $15.4B |
| P/E (trailing) | – | – |
| Dividend yield | 1.01% | 17.24% |
| 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 | TU |
|---|---|---|
| 2022 | -18.2% | -14.3% |
| 2023 | +26.2% | -2.4% |
| 2024 | +24.9% | -18.4% |
| 2025 | +17.7% | +0.7% |
| 2026 | +13.7% | -22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TU good diversifiers for each other?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPY and TU?
As of 2026-08-27, the correlation of weekly returns between SPY and TU is 0.15 over 3 years, 0.18 over 1 year and 0.32 over 5 years.
Is TU a good diversifier for SPY?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
What does a correlation of 0.15 mean?
On the −1 to +1 scale, 0.15 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-tu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-tu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · TU correlations
