SPY vs VIRT: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Virtu Financial, Inc. (VIRT) 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 VIRT?
Over the past 3 years, SPY and VIRT moved with a correlation of 0.15, which is weak. Little has changed lately, as the 1-year reading of 0.15 lands near the 3-year figure. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 79.8 %².
By 3-year correlation, VIRT places #3749 of the 4755 assets tracked against SPY. Their recent paths diverged sharply: over the last 12 months VIRT outperformed by 39.9 percentage points (+20.6% for SPY against +60.5% for VIRT). One caveat on sizing: VIRT is 2.5 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 VIRT: side by side
| SPY (SPDR S&P 500 ETF Trust) | VIRT (Virtu Financial, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +60.5% |
| 5-year return | +82.4% | +221.4% |
| Volatility (ann.) | 14.5% | 36.1% |
| Beta vs S&P 500 | 1.00 | 0.38 |
| Max drawdown (3Y) | -18.8% | -27.8% |
| Market cap | – | $5.9B |
| P/E (trailing) | – | 11.1 |
| Dividend yield | 1.01% | 1.46% |
| 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 | VIRT |
|---|---|---|
| 2022 | -18.2% | -26.5% |
| 2023 | +26.2% | +4.6% |
| 2024 | +24.9% | +83.0% |
| 2025 | +17.7% | -4.2% |
| 2026 | +13.7% | +103.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VIRT 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 VIRT?
As of 2026-08-27, the correlation of weekly returns between SPY and VIRT is 0.15 over 3 years, 0.15 over 1 year and 0.28 over 5 years.
Is VIRT 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?
A reading of 0.15 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-virt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-virt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · VIRT correlations
