SPY vs UBER: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Uber (UBER) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and UBER?
Over the past 3 years, SPY and UBER moved with a correlation of 0.53, which is moderate. Little has changed lately, as the 1-year reading of 0.45 lands near the 3-year figure. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 279.5 %².
Within SPY's tracked universe of 4755 assets, UBER comes in at #363 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 39.9 percentage points (+20.6% for SPY against -19.3% for UBER). On a rolling one-year basis the correlation drifted between 0.31 and 0.74, a moderate band. Risk is not evenly split, since UBER carries 2.5 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 UBER: side by side
| SPY (SPDR S&P 500 ETF Trust) | UBER (Uber) | |
|---|---|---|
| 1-year return | +20.6% | -19.3% |
| 5-year return | +82.4% | +94.4% |
| Volatility (ann.) | 14.5% | 36.7% |
| Beta vs S&P 500 | 1.00 | 1.34 |
| Max drawdown (3Y) | -18.8% | -34.1% |
| Market cap | – | $157.2B |
| P/E (trailing) | – | 17.2 |
| Dividend yield | 1.01% | 0.00% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | Industrials |
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 | UBER |
|---|---|---|
| 2022 | -18.2% | -41.0% |
| 2023 | +26.2% | +149.0% |
| 2024 | +24.9% | -2.0% |
| 2025 | +17.7% | +35.5% |
| 2026 | +13.7% | -5.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.24% of SPY is UBER itself, so the fund partly moves with the stock by construction.
Are SPY and UBER good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between SPY and UBER?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.45 over the last year and 0.47 over 5 years.
Is UBER a good diversifier for SPY?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 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-uber.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-uber/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · UBER correlations
