SPY vs UONE: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Urban One, Inc. (UONE) trade together? Their weekly returns over three years give a correlation of 0.21, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and UONE?
On 3 years of weekly data the SPY/UONE correlation comes out at 0.21, weak. The relationship has been stable: the 1-year correlation (0.24) sits close to the 3-year figure. The 5-year figure is 0.25, and annualized covariance runs at 202.2 %².
By 3-year correlation, UONE places #3189 of the 4755 assets tracked against SPY. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 91.0 percentage points (+20.6% for SPY against -70.4% for UONE). Risk is not evenly split, since UONE carries 4.6 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 UONE: side by side
| SPY (SPDR S&P 500 ETF Trust) | UONE (Urban One, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -70.4% |
| 5-year return | +82.4% | -93.9% |
| Volatility (ann.) | 14.5% | 67.2% |
| Beta vs S&P 500 | 1.00 | 0.97 |
| Max drawdown (3Y) | -18.8% | -91.9% |
| 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 |
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 | UONE |
|---|---|---|
| 2022 | -18.2% | -2.2% |
| 2023 | +26.2% | -11.4% |
| 2024 | +24.9% | -61.8% |
| 2025 | +17.7% | -33.1% |
| 2026 | +13.7% | -53.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and UONE good diversifiers for each other?
Reasonably. At 0.21, SPY and UONE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and UONE?
Using weekly returns as of 2026-08-27: 0.21 over 3 years, with 0.24 over the last year and 0.25 over 5 years.
Is UONE a good diversifier for SPY?
Reasonably. At 0.21, SPY and UONE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.21 mean?
On the −1 to +1 scale, 0.21 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-uone.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-uone/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · UONE correlations
