SPY vs VFC: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and V.F. Corporation (VFC) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VFC?
On 3 years of weekly data the SPY/VFC correlation comes out at 0.33, moderate. Little has changed lately, as the 1-year reading of 0.38 lands near the 3-year figure. The 5-year figure is 0.43, and annualized covariance runs at 261.8 %².
By 3-year correlation, VFC places #1919 of the 4755 assets tracked against SPY. The last year tells two different stories: SPY led by 27.3 percentage points, +20.6% for SPY against -6.7% for VFC. Note the risk asymmetry: VFC runs 3.8 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 VFC: side by side
| SPY (SPDR S&P 500 ETF Trust) | VFC (V.F. Corporation) | |
|---|---|---|
| 1-year return | +20.6% | -6.7% |
| 5-year return | +82.4% | -79.1% |
| Volatility (ann.) | 14.5% | 54.9% |
| Beta vs S&P 500 | 1.00 | 1.25 |
| Max drawdown (3Y) | -18.8% | -63.7% |
| Market cap | – | $5.4B |
| P/E (trailing) | – | 20.1 |
| Dividend yield | 1.01% | 12.96% |
| 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 | VFC |
|---|---|---|
| 2022 | -18.2% | -60.4% |
| 2023 | +26.2% | -28.5% |
| 2024 | +24.9% | +16.6% |
| 2025 | +17.7% | -13.8% |
| 2026 | +13.7% | -23.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VFC good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and VFC?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.38 over the last year and 0.43 over 5 years.
Is VFC a good diversifier for SPY?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
A reading of 0.33 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-vfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-vfc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPY correlations · VFC correlations
