SPY vs VNT: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Vontier Corporation (VNT) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VNT?
Across a 3-year window, the weekly returns of SPY and VNT correlate at 0.53, moderate. The link has loosened recently: the 1-year correlation (0.25) runs below the 3-year figure (0.53). Stretching to 5 years gives 0.57, with an annualized covariance of 236.4 %².
Within SPY's tracked universe of 4755 assets, VNT comes in at #366 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 44.2 points (+20.6% versus -23.6%). Note the risk asymmetry: VNT runs 2.1 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 VNT: side by side
| SPY (SPDR S&P 500 ETF Trust) | VNT (Vontier Corporation) | |
|---|---|---|
| 1-year return | +20.6% | -23.6% |
| 5-year return | +82.4% | -7.6% |
| Volatility (ann.) | 14.5% | 31.1% |
| Beta vs S&P 500 | 1.00 | 1.13 |
| Max drawdown (3Y) | -18.8% | -38.4% |
| Market cap | – | $4.5B |
| P/E (trailing) | – | 14.0 |
| Dividend yield | 1.01% | 0.30% |
| 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 | VNT |
|---|---|---|
| 2022 | -18.2% | -36.8% |
| 2023 | +26.2% | +79.3% |
| 2024 | +24.9% | +5.8% |
| 2025 | +17.7% | +2.2% |
| 2026 | +13.7% | -10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VNT good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between SPY and VNT?
The SPY/VNT correlation stands at 0.53 on a 3-year window (1 year: 0.25, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is VNT a good diversifier for SPY?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 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-vnt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-vnt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · VNT correlations
