SPY vs TYG: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Tortoise Energy Infrastructure Corporation (TYG) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TYG?
Across a 3-year window, the weekly returns of SPY and TYG correlate at 0.31, moderate. The past 12 months show a weaker link (-0.16) than the 3-year average (0.31). Stretching to 5 years gives 0.43, with an annualized covariance of 94.3 %².
By 3-year correlation, TYG places #2127 of the 4755 assets tracked against SPY. The trailing year gives SPY the advantage: +20.6% versus +14.1%, a 6.5-point spread.
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 TYG: side by side
| SPY (SPDR S&P 500 ETF Trust) | TYG (Tortoise Energy Infrastructure Corporation) | |
|---|---|---|
| 1-year return | +20.6% | +14.1% |
| 5-year return | +82.4% | +162.5% |
| Volatility (ann.) | 14.5% | 21.2% |
| Beta vs S&P 500 | 1.00 | 0.45 |
| Max drawdown (3Y) | -18.8% | -25.1% |
| Market cap | – | – |
| P/E (trailing) | – | 6.0 |
| Dividend yield | 1.01% | 11.89% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
On the fund side, SPY sits in the Large Blend category at State Street Investment Management, with $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | TYG |
|---|---|---|
| 2022 | -18.2% | +24.2% |
| 2023 | +26.2% | -0.4% |
| 2024 | +24.9% | +60.2% |
| 2025 | +17.7% | +8.5% |
| 2026 | +13.7% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TYG good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and TYG?
As of 2026-08-27, the correlation of weekly returns between SPY and TYG is 0.31 over 3 years, -0.16 over 1 year and 0.43 over 5 years.
Is TYG a good diversifier for SPY?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 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.
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Related comparisons
Hubs: SPY correlations · TYG correlations
