SPY vs VRT: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Vertiv (VRT) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VRT?
Over the past 3 years, SPY and VRT moved with a correlation of 0.60, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.37 versus 0.60 over 3 years. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 493.6 %².
By 3-year correlation, VRT places #179 of the 4755 assets tracked against SPY. The last year tells two different stories: VRT led by 87.9 percentage points, +20.6% for SPY against +108.5% for VRT. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.21 to 0.76. Note the risk asymmetry: VRT runs 3.9 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 VRT: side by side
| SPY (SPDR S&P 500 ETF Trust) | VRT (Vertiv) | |
|---|---|---|
| 1-year return | +20.6% | +108.5% |
| 5-year return | +82.4% | +847.7% |
| Volatility (ann.) | 14.5% | 57.1% |
| Beta vs S&P 500 | 1.00 | 2.36 |
| Max drawdown (3Y) | -18.8% | -61.3% |
| Market cap | – | $103.7B |
| P/E (trailing) | – | 59.6 |
| Dividend yield | 1.01% | 0.07% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | Industrials |
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 | VRT |
|---|---|---|
| 2022 | -18.2% | -45.3% |
| 2023 | +26.2% | +251.8% |
| 2024 | +24.9% | +136.8% |
| 2025 | +17.7% | +42.8% |
| 2026 | +13.7% | +66.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
VRT represents 0.15% of SPY's portfolio, so part of any move in SPY is VRT itself, and the correlation between them is partly mechanical.
Are SPY and VRT good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SPY and VRT?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.37 over the last year and 0.54 over 5 years.
Is VRT a good diversifier for SPY?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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-vrt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-vrt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · VRT correlations
