SPY vs VGI: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Virtus Global Multi-Sector Income Fund (VGI) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VGI?
Across a 3-year window, the weekly returns of SPY and VGI correlate at 0.53, moderate. The link has tightened recently: the 1-year correlation (0.74) runs above the 3-year figure (0.53). Stretching to 5 years gives 0.61, with an annualized covariance of 79.1 %².
By 3-year correlation, VGI places #365 of the 4755 assets tracked against SPY. The last year tells two different stories: SPY led by 16.8 percentage points, +20.6% for SPY against +3.8% for VGI.
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 VGI: side by side
| SPY (SPDR S&P 500 ETF Trust) | VGI (Virtus Global Multi-Sector Income Fund) | |
|---|---|---|
| 1-year return | +20.6% | +3.8% |
| 5-year return | +82.4% | +11.9% |
| Volatility (ann.) | 14.5% | 10.3% |
| Beta vs S&P 500 | 1.00 | 0.38 |
| Max drawdown (3Y) | -18.8% | -11.3% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 7.8 |
| Dividend yield | 1.01% | 0.00% |
| 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 | VGI |
|---|---|---|
| 2022 | -18.2% | -22.3% |
| 2023 | +26.2% | +13.4% |
| 2024 | +24.9% | +10.4% |
| 2025 | +17.7% | +16.1% |
| 2026 | +13.7% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VGI good diversifiers for each other?
To a limited degree. At 0.53 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 VGI?
As of 2026-08-27, the correlation of weekly returns between SPY and VGI is 0.53 over 3 years, 0.74 over 1 year and 0.61 over 5 years.
Is VGI a good diversifier for SPY?
To a limited degree. At 0.53 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 0.53 mean?
A reading of 0.53 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-vgi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-vgi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · VGI correlations
