SPY vs TVTX: Correlation
SPDR S&P 500 ETF Trust (SPY) and Travere Therapeutics, Inc. (TVTX) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TVTX?
Across a 3-year window, the weekly returns of SPY and TVTX correlate at 0.33, moderate. The relationship has been stable: the 1-year correlation (0.37) sits close to the 3-year figure. Stretching to 5 years gives 0.28, with an annualized covariance of 349.9 %².
By 3-year correlation, TVTX places #1917 of the 4755 assets tracked against SPY. Correlation aside, the last 12 months split them widely, with TVTX ahead by 266.6 points (+20.6% versus +287.2%). Note the risk asymmetry: TVTX runs 5.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TVTX: side by side
| SPY (SPDR S&P 500 ETF Trust) | TVTX (Travere Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +287.2% |
| 5-year return | +82.4% | +213.8% |
| Volatility (ann.) | 14.5% | 72.5% |
| Beta vs S&P 500 | 1.00 | 1.67 |
| Max drawdown (3Y) | -18.8% | -64.6% |
| Market cap | – | $6.4B |
| 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 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 | TVTX |
|---|---|---|
| 2022 | -18.2% | -32.2% |
| 2023 | +26.2% | -57.3% |
| 2024 | +24.9% | +93.8% |
| 2025 | +17.7% | +119.3% |
| 2026 | +13.7% | +76.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TVTX good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and TVTX?
The SPY/TVTX correlation stands at 0.33 on a 3-year window (1 year: 0.37, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is TVTX a good diversifier for SPY?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 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-tvtx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-tvtx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · TVTX correlations
