SPY vs VLTO: Correlation
SPDR S&P 500 ETF Trust (SPY) and Veralto (VLTO) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VLTO?
Across a 3-year window, the weekly returns of SPY and VLTO correlate at 0.45, moderate. The past 12 months show a weaker link (0.28) than the 3-year average (0.45). Stretching to 5 years gives n/a, with an annualized covariance of 138.1 %².
By 3-year correlation, VLTO places #751 of the 4755 assets tracked against SPY. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 28.5 percentage points (+20.6% for SPY against -7.9% for VLTO). Across three years, the rolling one-year figure varied moderately, from 0.25 to 0.68.
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 VLTO: side by side
| SPY (SPDR S&P 500 ETF Trust) | VLTO (Veralto) | |
|---|---|---|
| 1-year return | +20.6% | -7.9% |
| 5-year return | +82.4% | n/a |
| Volatility (ann.) | 14.5% | 21.2% |
| Beta vs S&P 500 | 1.00 | 0.66 |
| Max drawdown (3Y) | -18.8% | -27.1% |
| Market cap | – | $24.0B |
| P/E (trailing) | – | 24.9 |
| Dividend yield | 1.01% | 0.51% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | Industrials |
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 | VLTO |
|---|---|---|
| 2022 | -18.2% | – |
| 2023 | +26.2% | – |
| 2024 | +24.9% | +24.3% |
| 2025 | +17.7% | -1.6% |
| 2026 | +13.7% | -1.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VLTO good diversifiers for each other?
Reasonably. At 0.45, SPY and VLTO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and VLTO?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.28 over the last year and n/a over 5 years.
Is VLTO a good diversifier for SPY?
Reasonably. At 0.45, SPY and VLTO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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-vlto.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-vlto/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · VLTO correlations
