SPY vs VMAR: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Vision Marine Technologies Inc. (VMAR) 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 VMAR?
Over the past 3 years, SPY and VMAR moved with a correlation of 0.15, which is weak. The link has tightened recently: the 1-year correlation (0.26) runs above the 3-year figure (0.15). Over 5 years the correlation is 0.14, and the annualized covariance of weekly returns is 236.6 %².
Within SPY's tracked universe of 4755 assets, VMAR comes in at #3750 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 120.5 percentage points (+20.6% for SPY against -99.9% for VMAR). Risk is not evenly split, since VMAR carries 7.6 times the volatility of the other side.
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 VMAR: side by side
| SPY (SPDR S&P 500 ETF Trust) | VMAR (Vision Marine Technologies Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -99.9% |
| 5-year return | +82.4% | -100.0% |
| Volatility (ann.) | 14.5% | 110.6% |
| Beta vs S&P 500 | 1.00 | 1.13 |
| Max drawdown (3Y) | -18.8% | -100.0% |
| Market cap | – | – |
| 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 |
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 | VMAR |
|---|---|---|
| 2022 | -18.2% | -4.8% |
| 2023 | +26.2% | -76.4% |
| 2024 | +24.9% | -98.9% |
| 2025 | +17.7% | -98.7% |
| 2026 | +13.7% | -99.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VMAR good diversifiers for each other?
Yes: at 0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SPY and VMAR?
Using weekly returns as of 2026-08-27: 0.15 over 3 years, with 0.26 over the last year and 0.14 over 5 years.
Is VMAR a good diversifier for SPY?
Yes: at 0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
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-vmar.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-vmar/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · VMAR correlations
