SPY vs UEC: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Uranium Energy Corp. (UEC) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and UEC?
Across a 3-year window, the weekly returns of SPY and UEC correlate at 0.39, moderate. Little has changed lately, as the 1-year reading of 0.36 lands near the 3-year figure. Stretching to 5 years gives 0.37, with an annualized covariance of 356.8 %².
Among the 4755 assets we track against SPY, UEC ranks #1288 by 3-year correlation. On 12-month performance UEC holds a 10.7-point edge, +20.6% against +31.3%. Risk is not evenly split, since UEC carries 4.4 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 UEC: side by side
| SPY (SPDR S&P 500 ETF Trust) | UEC (Uranium Energy Corp.) | |
|---|---|---|
| 1-year return | +20.6% | +31.3% |
| 5-year return | +82.4% | +467.5% |
| Volatility (ann.) | 14.5% | 63.2% |
| Beta vs S&P 500 | 1.00 | 1.71 |
| Max drawdown (3Y) | -18.8% | -55.1% |
| Market cap | – | – |
| 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 |
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 | UEC |
|---|---|---|
| 2022 | -18.2% | +15.8% |
| 2023 | +26.2% | +64.9% |
| 2024 | +24.9% | +4.5% |
| 2025 | +17.7% | +74.6% |
| 2026 | +13.7% | +16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and UEC good diversifiers for each other?
Reasonably. At 0.39, SPY and UEC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and UEC?
As of 2026-08-27, the correlation of weekly returns between SPY and UEC is 0.39 over 3 years, 0.36 over 1 year and 0.37 over 5 years.
Is UEC a good diversifier for SPY?
Reasonably. At 0.39, SPY and UEC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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-uec.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-uec/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · UEC correlations
