SPY vs V: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Visa Inc. (V) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and V?
On 3 years of weekly data the SPY/V correlation comes out at 0.55, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.32 versus 0.55 over 3 years. The 5-year figure is 0.62, and annualized covariance runs at 150.3 %².
Among the 4755 assets we track against SPY, V ranks #290 by 3-year correlation. The trailing year gives SPY the advantage: +20.6% versus +9.2%, a 11.4-point spread. On a rolling one-year basis the correlation drifted between 0.31 and 0.79, a moderate band.
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 V: side by side
| SPY (SPDR S&P 500 ETF Trust) | V (Visa Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +9.2% |
| 5-year return | +82.4% | +70.5% |
| Volatility (ann.) | 14.5% | 19.1% |
| Beta vs S&P 500 | 1.00 | 0.72 |
| Max drawdown (3Y) | -18.8% | -20.4% |
| Market cap | – | $708.8B |
| P/E (trailing) | – | 32.7 |
| Dividend yield | 1.01% | 0.70% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | Financials |
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 | V |
|---|---|---|
| 2022 | -18.2% | -3.4% |
| 2023 | +26.2% | +26.3% |
| 2024 | +24.9% | +22.3% |
| 2025 | +17.7% | +11.8% |
| 2026 | +13.7% | +8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
V represents 0.96% of SPY's portfolio, so part of any move in SPY is V itself, and the correlation between them is partly mechanical.
Are SPY and V good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SPY and V?
The SPY/V correlation stands at 0.55 on a 3-year window (1 year: 0.32, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is V a good diversifier for SPY?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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 · V correlations
