SPY vs VCTR: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Victory Capital Holdings, Inc. (VCTR) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VCTR?
Across a 3-year window, the weekly returns of SPY and VCTR correlate at 0.54, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.36 versus 0.54 over 3 years. Stretching to 5 years gives 0.55, with an annualized covariance of 240.7 %².
By 3-year correlation, VCTR places #324 of the 4755 assets tracked against SPY. Correlation aside, the last 12 months split them widely, with VCTR ahead by 53.5 points (+20.6% versus +74.1%). Risk is not evenly split, since VCTR carries 2.1 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 VCTR: side by side
| SPY (SPDR S&P 500 ETF Trust) | VCTR (Victory Capital Holdings, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +74.1% |
| 5-year return | +82.4% | +309.1% |
| Volatility (ann.) | 14.5% | 30.9% |
| Beta vs S&P 500 | 1.00 | 1.15 |
| Max drawdown (3Y) | -18.8% | -28.1% |
| Market cap | – | $7.5B |
| P/E (trailing) | – | 21.9 |
| Dividend yield | 1.01% | 1.63% |
| 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 | VCTR |
|---|---|---|
| 2022 | -18.2% | -23.9% |
| 2023 | +26.2% | +33.5% |
| 2024 | +24.9% | +95.9% |
| 2025 | +17.7% | -0.8% |
| 2026 | +13.7% | +94.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VCTR good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between SPY and VCTR?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.36 over the last year and 0.55 over 5 years.
Is VCTR a good diversifier for SPY?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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-vctr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-vctr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · VCTR correlations
