SPY vs UIS: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Unisys Corporation New (UIS) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and UIS?
Across a 3-year window, the weekly returns of SPY and UIS correlate at 0.36, moderate. The past 12 months show a tighter link (0.49) than the 3-year average (0.36). Stretching to 5 years gives 0.30, with an annualized covariance of 420.5 %².
By 3-year correlation, UIS places #1595 of the 4755 assets tracked against SPY. Correlation aside, the last 12 months split them widely, with SPY ahead by 51.4 points (+20.6% versus -30.8%). One caveat on sizing: UIS is 5.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 UIS: side by side
| SPY (SPDR S&P 500 ETF Trust) | UIS (Unisys Corporation New) | |
|---|---|---|
| 1-year return | +20.6% | -30.8% |
| 5-year return | +82.4% | -88.7% |
| Volatility (ann.) | 14.5% | 80.0% |
| Beta vs S&P 500 | 1.00 | 2.01 |
| Max drawdown (3Y) | -18.8% | -77.6% |
| Market cap | – | $0.2B |
| 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 |
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 | UIS |
|---|---|---|
| 2022 | -18.2% | -75.2% |
| 2023 | +26.2% | +10.0% |
| 2024 | +24.9% | +12.6% |
| 2025 | +17.7% | -56.4% |
| 2026 | +13.7% | -1.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and UIS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and UIS?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.49 over the last year and 0.30 over 5 years.
Is UIS a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 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-uis.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-uis/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · UIS correlations
