SPY vs VTR: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Ventas (VTR) trade together? Their weekly returns over three years give a correlation of 0.17, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VTR?
On 3 years of weekly data the SPY/VTR correlation comes out at 0.17, weak. Lately the two have drifted apart, with the 1-year correlation at -0.04 versus 0.17 over 3 years. The 5-year figure is 0.36, and annualized covariance runs at 52.7 %².
Among the 4755 assets we track against SPY, VTR ranks #3575 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VTR ahead by 19.8 points (+20.6% versus +40.4%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.04 to 0.68.
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 VTR: side by side
| SPY (SPDR S&P 500 ETF Trust) | VTR (Ventas) | |
|---|---|---|
| 1-year return | +20.6% | +40.4% |
| 5-year return | +82.4% | +98.1% |
| Volatility (ann.) | 14.5% | 21.5% |
| Beta vs S&P 500 | 1.00 | 0.25 |
| Max drawdown (3Y) | -18.8% | -16.7% |
| Market cap | – | $47.6B |
| P/E (trailing) | – | 168.9 |
| Dividend yield | 1.01% | 2.14% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | Real Estate |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | VTR |
|---|---|---|
| 2022 | -18.2% | -8.5% |
| 2023 | +26.2% | +15.1% |
| 2024 | +24.9% | +22.2% |
| 2025 | +17.7% | +35.1% |
| 2026 | +13.7% | +21.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that SPY holds VTR at a 0.07% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are SPY and VTR good diversifiers for each other?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPY and VTR?
As of 2026-08-27, the correlation of weekly returns between SPY and VTR is 0.17 over 3 years, -0.04 over 1 year and 0.36 over 5 years.
Is VTR a good diversifier for SPY?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
What does a correlation of 0.17 mean?
A reading of 0.17 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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Related comparisons
Hubs: SPY correlations · VTR correlations
