SPY vs VSH: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Vishay Intertechnology, Inc. (VSH) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VSH?
On 3 years of weekly data the SPY/VSH correlation comes out at 0.52, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. The 5-year figure is 0.51, and annualized covariance runs at 389.5 %².
By 3-year correlation, VSH places #404 of the 4755 assets tracked against SPY. Correlation aside, the last 12 months split them widely, with VSH ahead by 88.0 points (+20.6% versus +108.6%). Note the risk asymmetry: VSH runs 3.6 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 VSH: side by side
| SPY (SPDR S&P 500 ETF Trust) | VSH (Vishay Intertechnology, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +108.6% |
| 5-year return | +82.4% | +55.5% |
| Volatility (ann.) | 14.5% | 51.7% |
| Beta vs S&P 500 | 1.00 | 1.86 |
| Max drawdown (3Y) | -18.8% | -60.4% |
| Market cap | – | $4.9B |
| P/E (trailing) | – | 151.1 |
| Dividend yield | 1.01% | 1.30% |
| 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 | VSH |
|---|---|---|
| 2022 | -18.2% | +0.7% |
| 2023 | +26.2% | +13.0% |
| 2024 | +24.9% | -27.9% |
| 2025 | +17.7% | -12.2% |
| 2026 | +13.7% | +120.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VSH good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SPY and VSH?
As of 2026-08-27, the correlation of weekly returns between SPY and VSH is 0.52 over 3 years, 0.50 over 1 year and 0.51 over 5 years.
Is VSH a good diversifier for SPY?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 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-vsh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-vsh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · VSH correlations
