SPY vs VET: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Vermilion Energy Inc. Common (Canada) (VET) carry a correlation of 0.10, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VET?
Across a 3-year window, the weekly returns of SPY and VET correlate at 0.10, weak. The past 12 months show a weaker link (-0.38) than the 3-year average (0.10). Stretching to 5 years gives 0.14, with an annualized covariance of 64.5 %².
Among the 4755 assets we track against SPY, VET ranks #4119 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VET ahead by 47.8 points (+20.6% versus +68.4%). Risk is not evenly split, since VET carries 3.0 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 VET: side by side
| SPY (SPDR S&P 500 ETF Trust) | VET (Vermilion Energy Inc. Common (Canada)) | |
|---|---|---|
| 1-year return | +20.6% | +68.4% |
| 5-year return | +82.4% | +115.2% |
| Volatility (ann.) | 14.5% | 43.6% |
| Beta vs S&P 500 | 1.00 | 0.31 |
| Max drawdown (3Y) | -18.8% | -63.4% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 1.01% | 4.32% |
| 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 | VET |
|---|---|---|
| 2022 | -18.2% | +42.1% |
| 2023 | +26.2% | -30.3% |
| 2024 | +24.9% | -19.4% |
| 2025 | +17.7% | -9.1% |
| 2026 | +13.7% | +55.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VET good diversifiers for each other?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPY and VET?
Using weekly returns as of 2026-08-27: 0.10 over 3 years, with -0.38 over the last year and 0.14 over 5 years.
Is VET a good diversifier for SPY?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
What does a correlation of 0.10 mean?
On the −1 to +1 scale, 0.10 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 · VET correlations
