SPY vs TY: Correlation
SPDR S&P 500 ETF Trust (SPY) and Tri Continental Corporation (TY) show a very strong relationship: their 3-year correlation of weekly returns is 0.85.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TY?
On 3 years of weekly data the SPY/TY correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.77 lands near the 3-year figure. The 5-year figure is 0.87, and annualized covariance runs at 164.8 %².
Among the 4755 assets we track against SPY, TY ranks #34 by 3-year correlation. On 12-month performance SPY holds a 9.3-point edge, +20.6% against +11.3%.
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 TY: side by side
| SPY (SPDR S&P 500 ETF Trust) | TY (Tri Continental Corporation) | |
|---|---|---|
| 1-year return | +20.6% | +11.3% |
| 5-year return | +82.4% | +26.0% |
| Volatility (ann.) | 14.5% | 13.5% |
| Beta vs S&P 500 | 1.00 | 0.79 |
| Max drawdown (3Y) | -18.8% | -19.7% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | 7.3 |
| Dividend yield | 1.01% | 3.09% |
| 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 | TY |
|---|---|---|
| 2022 | -18.2% | -19.7% |
| 2023 | +26.2% | +17.2% |
| 2024 | +24.9% | +15.0% |
| 2025 | +17.7% | +6.6% |
| 2026 | +13.7% | +12.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TY good diversifiers for each other?
No. With a correlation of 0.85, SPY and TY move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between SPY and TY?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.77 over the last year and 0.87 over 5 years.
Is TY a good diversifier for SPY?
No. With a correlation of 0.85, SPY and TY move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 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-ty.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-ty/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · TY correlations
