SPY vs VIAV: Correlation
SPDR S&P 500 ETF Trust (SPY) and Viavi Solutions Inc. (VIAV) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VIAV?
Across a 3-year window, the weekly returns of SPY and VIAV correlate at 0.35, moderate. The link has loosened recently: the 1-year correlation (0.22) runs below the 3-year figure (0.35). Stretching to 5 years gives 0.42, with an annualized covariance of 239.2 %².
Among the 4755 assets we track against SPY, VIAV ranks #1712 by 3-year correlation. The last year tells two different stories: VIAV led by 224.6 percentage points, +20.6% for SPY against +245.2% for VIAV. Note the risk asymmetry: VIAV runs 3.3 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 VIAV: side by side
| SPY (SPDR S&P 500 ETF Trust) | VIAV (Viavi Solutions Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +245.2% |
| 5-year return | +82.4% | +132.5% |
| Volatility (ann.) | 14.5% | 47.3% |
| Beta vs S&P 500 | 1.00 | 1.14 |
| Max drawdown (3Y) | -18.8% | -41.7% |
| Market cap | – | $9.5B |
| 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 | VIAV |
|---|---|---|
| 2022 | -18.2% | -40.4% |
| 2023 | +26.2% | -4.2% |
| 2024 | +24.9% | +0.3% |
| 2025 | +17.7% | +76.4% |
| 2026 | +13.7% | +115.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VIAV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and VIAV?
As of 2026-08-27, the correlation of weekly returns between SPY and VIAV is 0.35 over 3 years, 0.22 over 1 year and 0.42 over 5 years.
Is VIAV a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-viav.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-viav/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · VIAV correlations
