SPY vs VICI: Correlation
SPDR S&P 500 ETF Trust (SPY) and Vici Properties (VICI) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VICI?
Over the past 3 years, SPY and VICI moved with a correlation of 0.28, which is weak. Recent behaviour matches the longer record: 0.22 over 1 year against 0.28 over 3. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 72.9 %².
By 3-year correlation, VICI places #2488 of the 4755 assets tracked against SPY. Correlation aside, the last 12 months split them widely, with SPY ahead by 39.3 points (+20.6% versus -18.7%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.16 and 0.70 over the past three years, so this pair behaves very differently depending on the market environment.
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 VICI: side by side
| SPY (SPDR S&P 500 ETF Trust) | VICI (Vici Properties) | |
|---|---|---|
| 1-year return | +20.6% | -18.7% |
| 5-year return | +82.4% | +9.9% |
| Volatility (ann.) | 14.5% | 18.0% |
| Beta vs S&P 500 | 1.00 | 0.35 |
| Max drawdown (3Y) | -18.8% | -19.1% |
| Market cap | – | $28.4B |
| P/E (trailing) | – | 10.1 |
| Dividend yield | 1.01% | 6.92% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | Real Estate |
On the fund side, SPY sits in the Large Blend category at State Street Investment Management, with $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | VICI |
|---|---|---|
| 2022 | -18.2% | +13.0% |
| 2023 | +26.2% | +3.6% |
| 2024 | +24.9% | -3.1% |
| 2025 | +17.7% | +1.9% |
| 2026 | +13.7% | -5.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VICI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and VICI?
As of 2026-08-27, the correlation of weekly returns between SPY and VICI is 0.28 over 3 years, 0.22 over 1 year and 0.48 over 5 years.
Is VICI a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 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-vici.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-vici/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · VICI correlations
