SPY vs VRA: Correlation
SPDR S&P 500 ETF Trust (SPY) and Vera Bradley, Inc. (VRA) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VRA?
Over the past 3 years, SPY and VRA moved with a correlation of 0.26, which is weak. Little has changed lately, as the 1-year reading of 0.16 lands near the 3-year figure. Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 231.4 %².
By 3-year correlation, VRA places #2682 of the 4755 assets tracked against SPY. Correlation aside, the last 12 months split them widely, with VRA ahead by 40.8 points (+20.6% versus +61.4%). Risk is not evenly split, since VRA carries 4.2 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 VRA: side by side
| SPY (SPDR S&P 500 ETF Trust) | VRA (Vera Bradley, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +61.4% |
| 5-year return | +82.4% | -71.6% |
| Volatility (ann.) | 14.5% | 61.5% |
| Beta vs S&P 500 | 1.00 | 1.11 |
| Max drawdown (3Y) | -18.8% | -78.8% |
| Market cap | – | $0.1B |
| 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 | VRA |
|---|---|---|
| 2022 | -18.2% | -46.8% |
| 2023 | +26.2% | +70.0% |
| 2024 | +24.9% | -49.0% |
| 2025 | +17.7% | -38.4% |
| 2026 | +13.7% | +38.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VRA good diversifiers for each other?
Reasonably. At 0.26, SPY and VRA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and VRA?
The SPY/VRA correlation stands at 0.26 on a 3-year window (1 year: 0.16, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is VRA a good diversifier for SPY?
Reasonably. At 0.26, SPY and VRA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.26 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-vra.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-vra/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · VRA correlations
