SPY vs VSTS: Correlation
SPDR S&P 500 ETF Trust (SPY) and Vestis Corporation (VSTS) show a weak relationship: their 3-year correlation of weekly returns is 0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VSTS?
Across a 3-year window, the weekly returns of SPY and VSTS correlate at 0.23, weak. The past 12 months show a weaker link (0.02) than the 3-year average (0.23). Stretching to 5 years gives n/a, with an annualized covariance of 205.0 %².
Among the 4755 assets we track against SPY, VSTS ranks #2995 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VSTS outperformed by 156.6 percentage points (+20.6% for SPY against +177.2% for VSTS). Note the risk asymmetry: VSTS runs 4.2 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 VSTS: side by side
| SPY (SPDR S&P 500 ETF Trust) | VSTS (Vestis Corporation) | |
|---|---|---|
| 1-year return | +20.6% | +177.2% |
| 5-year return | +82.4% | n/a |
| Volatility (ann.) | 14.5% | 61.1% |
| Beta vs S&P 500 | 1.00 | 0.98 |
| Max drawdown (3Y) | -18.8% | -81.6% |
| Market cap | – | $1.7B |
| 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 |
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 | VSTS |
|---|---|---|
| 2022 | -18.2% | – |
| 2023 | +26.2% | – |
| 2024 | +24.9% | -27.2% |
| 2025 | +17.7% | -56.1% |
| 2026 | +13.7% | +91.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VSTS good diversifiers for each other?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and VSTS?
The SPY/VSTS correlation stands at 0.23 on a 3-year window (1 year: 0.02, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is VSTS a good diversifier for SPY?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.23 mean?
A reading of 0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Hubs: SPY correlations · VSTS correlations
