SPY vs VHC: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and VirnetX Holding Corp (VHC) carry a correlation of 0.15, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VHC?
Across a 3-year window, the weekly returns of SPY and VHC correlate at 0.15, weak. Little has changed lately, as the 1-year reading of 0.22 lands near the 3-year figure. Stretching to 5 years gives 0.18, with an annualized covariance of 228.1 %².
By 3-year correlation, VHC places #3748 of the 4755 assets tracked against SPY. Correlation aside, the last 12 months split them widely, with SPY ahead by 29.4 points (+20.6% versus -8.8%). One caveat on sizing: VHC is 7.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 VHC: side by side
| SPY (SPDR S&P 500 ETF Trust) | VHC (VirnetX Holding Corp) | |
|---|---|---|
| 1-year return | +20.6% | -8.8% |
| 5-year return | +82.4% | -57.1% |
| Volatility (ann.) | 14.5% | 104.0% |
| Beta vs S&P 500 | 1.00 | 1.09 |
| Max drawdown (3Y) | -18.8% | -60.7% |
| Market cap | – | $0.1B |
| 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 |
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 | VHC |
|---|---|---|
| 2022 | -18.2% | -50.0% |
| 2023 | +26.2% | -21.3% |
| 2024 | +24.9% | +12.1% |
| 2025 | +17.7% | +112.6% |
| 2026 | +13.7% | -25.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VHC good diversifiers for each other?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPY and VHC?
As of 2026-08-27, the correlation of weekly returns between SPY and VHC is 0.15 over 3 years, 0.22 over 1 year and 0.18 over 5 years.
Is VHC a good diversifier for SPY?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
What does a correlation of 0.15 mean?
On the −1 to +1 scale, 0.15 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-vhc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-vhc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · VHC correlations
