SPY vs VZLA: Correlation
SPDR S&P 500 ETF Trust (SPY) and Vizsla Silver Corp. (VZLA) show a weak relationship: their 3-year correlation of weekly returns is 0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VZLA?
On 3 years of weekly data the SPY/VZLA correlation comes out at 0.29, weak. Lately the two have moved closer together, with the 1-year correlation at 0.45 versus 0.29 over 3 years. The 5-year figure is 0.28, and annualized covariance runs at 256.9 %².
By 3-year correlation, VZLA places #2370 of the 4755 assets tracked against SPY. Their 12-month results are close: +20.6% for SPY against +18.2% for VZLA. One caveat on sizing: VZLA is 4.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 VZLA: side by side
| SPY (SPDR S&P 500 ETF Trust) | VZLA (Vizsla Silver Corp.) | |
|---|---|---|
| 1-year return | +20.6% | +18.2% |
| 5-year return | +82.4% | +82.3% |
| Volatility (ann.) | 14.5% | 60.6% |
| Beta vs S&P 500 | 1.00 | 1.23 |
| Max drawdown (3Y) | -18.8% | -56.9% |
| Market cap | – | $1.5B |
| 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 | VZLA |
|---|---|---|
| 2022 | -18.2% | – |
| 2023 | +26.2% | +8.7% |
| 2024 | +24.9% | +36.8% |
| 2025 | +17.7% | +219.9% |
| 2026 | +13.7% | -23.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VZLA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and VZLA?
As of 2026-08-27, the correlation of weekly returns between SPY and VZLA is 0.29 over 3 years, 0.45 over 1 year and 0.28 over 5 years.
Is VZLA a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.29 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.
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Related comparisons
Hubs: SPY correlations · VZLA correlations
