SPY vs TYGO: Correlation
SPDR S&P 500 ETF Trust (SPY) and Tigo Energy, Inc. (TYGO) show a near-zero relationship: their 3-year correlation of weekly returns is 0.09.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TYGO?
Over the past 3 years, SPY and TYGO moved with a correlation of 0.09, which is near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.02) runs below the 3-year figure (0.09). Over 5 years the correlation is 0.08, and the annualized covariance of weekly returns is 129.9 %².
Within SPY's tracked universe of 4755 assets, TYGO comes in at #4178 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 39.0 percentage points (+20.6% for SPY against -18.4% for TYGO). Risk is not evenly split, since TYGO carries 6.9 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 TYGO: side by side
| SPY (SPDR S&P 500 ETF Trust) | TYGO (Tigo Energy, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -18.4% |
| 5-year return | +82.4% | -88.7% |
| Volatility (ann.) | 14.5% | 100.4% |
| Beta vs S&P 500 | 1.00 | 0.62 |
| Max drawdown (3Y) | -18.8% | -94.1% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 6.9 |
| 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 | TYGO |
|---|---|---|
| 2022 | -18.2% | +3.0% |
| 2023 | +26.2% | -79.5% |
| 2024 | +24.9% | -52.9% |
| 2025 | +17.7% | +40.1% |
| 2026 | +13.7% | -19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TYGO good diversifiers for each other?
Yes: at 0.09, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SPY and TYGO?
As of 2026-08-27, the correlation of weekly returns between SPY and TYGO is 0.09 over 3 years, -0.02 over 1 year and 0.08 over 5 years.
Is TYGO a good diversifier for SPY?
Yes: at 0.09, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.09 mean?
On the −1 to +1 scale, 0.09 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 · TYGO correlations
