SPY vs UVSP: Correlation
SPDR S&P 500 ETF Trust (SPY) and Univest Financial Corporation (UVSP) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and UVSP?
On 3 years of weekly data the SPY/UVSP correlation comes out at 0.40, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.12 versus 0.40 over 3 years. The 5-year figure is 0.35, and annualized covariance runs at 169.1 %².
By 3-year correlation, UVSP places #1189 of the 4755 assets tracked against SPY. The trailing year gives UVSP the advantage: +20.6% versus +34.0%, a 13.4-point spread. Note the risk asymmetry: UVSP runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 UVSP: side by side
| SPY (SPDR S&P 500 ETF Trust) | UVSP (Univest Financial Corporation) | |
|---|---|---|
| 1-year return | +20.6% | +34.0% |
| 5-year return | +82.4% | +81.7% |
| Volatility (ann.) | 14.5% | 29.4% |
| Beta vs S&P 500 | 1.00 | 0.81 |
| Max drawdown (3Y) | -18.8% | -20.9% |
| Market cap | – | $1.1B |
| P/E (trailing) | – | 12.0 |
| Dividend yield | 1.01% | 2.16% |
| 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 | UVSP |
|---|---|---|
| 2022 | -18.2% | -9.9% |
| 2023 | +26.2% | -12.1% |
| 2024 | +24.9% | +38.8% |
| 2025 | +17.7% | +14.3% |
| 2026 | +13.7% | +29.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and UVSP good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and UVSP?
As of 2026-08-27, the correlation of weekly returns between SPY and UVSP is 0.40 over 3 years, 0.12 over 1 year and 0.35 over 5 years.
Is UVSP a good diversifier for SPY?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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-uvsp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-uvsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · UVSP correlations
