SPY vs TULP: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Bloomia Holdings, Inc. (TULP) trade together? Their weekly returns over three years give a correlation of 0.02, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TULP?
Over the past 3 years, SPY and TULP moved with a correlation of 0.02, which is near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of -0.00 lands near the 3-year figure. Over 5 years the correlation is 0.15, and the annualized covariance of weekly returns is 16.1 %².
By 3-year correlation, TULP places #4541 of the 4755 assets tracked against SPY. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 61.0 percentage points (+20.6% for SPY against -40.4% for TULP). Risk is not evenly split, since TULP carries 3.6 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 TULP: side by side
| SPY (SPDR S&P 500 ETF Trust) | TULP (Bloomia Holdings, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -40.4% |
| 5-year return | +82.4% | -59.8% |
| Volatility (ann.) | 14.5% | 52.9% |
| Beta vs S&P 500 | 1.00 | 0.08 |
| Max drawdown (3Y) | -18.8% | -53.2% |
| 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 | TULP |
|---|---|---|
| 2022 | -18.2% | -66.2% |
| 2023 | +26.2% | -41.0% |
| 2024 | +24.9% | +5.2% |
| 2025 | +17.7% | -28.9% |
| 2026 | +13.7% | -1.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TULP good diversifiers for each other?
Yes: at 0.02, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SPY and TULP?
As of 2026-08-27, the correlation of weekly returns between SPY and TULP is 0.02 over 3 years, -0.00 over 1 year and 0.15 over 5 years.
Is TULP a good diversifier for SPY?
Yes: at 0.02, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.02 mean?
On the −1 to +1 scale, 0.02 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-tulp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-tulp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · TULP correlations
