SPY vs VEEE: Correlation
SPDR S&P 500 ETF Trust (SPY) and Twin Vee PowerCats Co. (VEEE) show a near-zero relationship: their 3-year correlation of weekly returns is -0.04.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VEEE?
Over the past 3 years, SPY and VEEE moved with a correlation of -0.04, which is near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of -0.13 lands near the 3-year figure. Over 5 years the correlation is 0.02, and the annualized covariance of weekly returns is -215.4 %².
Among the 4755 assets we track against SPY, VEEE ranks #4679 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 106.9 points (+20.6% versus -86.3%). Note the risk asymmetry: VEEE runs 29.0 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 VEEE: side by side
| SPY (SPDR S&P 500 ETF Trust) | VEEE (Twin Vee PowerCats Co.) | |
|---|---|---|
| 1-year return | +20.6% | -86.3% |
| 5-year return | +82.4% | -99.4% |
| Volatility (ann.) | 14.5% | 421.0% |
| Beta vs S&P 500 | 1.00 | -1.03 |
| Max drawdown (3Y) | -18.8% | -99.3% |
| 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 |
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 | VEEE |
|---|---|---|
| 2022 | -18.2% | -54.4% |
| 2023 | +26.2% | -22.4% |
| 2024 | +24.9% | -61.3% |
| 2025 | +17.7% | -68.4% |
| 2026 | +13.7% | -84.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VEEE good diversifiers for each other?
By historical standards, yes. A correlation of -0.04 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPY and VEEE?
As of 2026-08-27, the correlation of weekly returns between SPY and VEEE is -0.04 over 3 years, -0.13 over 1 year and 0.02 over 5 years.
Is VEEE a good diversifier for SPY?
By historical standards, yes. A correlation of -0.04 means the two rarely move for the same reasons.
What does a correlation of -0.04 mean?
On the −1 to +1 scale, -0.04 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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Hubs: SPY correlations · VEEE correlations
