SPY vs UPC: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Universe Pharmaceuticals Inc - Class A (UPC) trade together? Their weekly returns over three years give a correlation of 0.15, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and UPC?
On 3 years of weekly data the SPY/UPC correlation comes out at 0.15, weak. The link has tightened recently: the 1-year correlation (0.34) runs above the 3-year figure (0.15). The 5-year figure is 0.10, and annualized covariance runs at 417.1 %².
Among the 4755 assets we track against SPY, UPC ranks #3746 by 3-year correlation. Correlation aside, the last 12 months split them widely, with UPC ahead by 16.4 points (+20.6% versus +37.0%). Risk is not evenly split, since UPC carries 12.9 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 UPC: side by side
| SPY (SPDR S&P 500 ETF Trust) | UPC (Universe Pharmaceuticals Inc - Class A) | |
|---|---|---|
| 1-year return | +20.6% | +37.0% |
| 5-year return | +82.4% | -99.9% |
| Volatility (ann.) | 14.5% | 187.7% |
| Beta vs S&P 500 | 1.00 | 2.00 |
| Max drawdown (3Y) | -18.8% | -99.9% |
| 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 | UPC |
|---|---|---|
| 2022 | -18.2% | -11.3% |
| 2023 | +26.2% | -76.9% |
| 2024 | +24.9% | -98.0% |
| 2025 | +17.7% | -84.4% |
| 2026 | +13.7% | +32.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and UPC good diversifiers for each other?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPY and UPC?
As of 2026-08-27, the correlation of weekly returns between SPY and UPC is 0.15 over 3 years, 0.34 over 1 year and 0.10 over 5 years.
Is UPC a good diversifier for SPY?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
What does a correlation of 0.15 mean?
On the −1 to +1 scale, 0.15 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 · UPC correlations
