SPY vs WATT: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Energous Corporation (WATT) carry a correlation of 0.17, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and WATT?
On 3 years of weekly data the SPY/WATT correlation comes out at 0.17, weak. Little has changed lately, as the 1-year reading of 0.26 lands near the 3-year figure. The 5-year figure is 0.22, and annualized covariance runs at 282.0 %².
Within SPY's tracked universe of 4755 assets, WATT comes in at #3576 by 3-year correlation. The last year tells two different stories: WATT led by 26.0 percentage points, +20.6% for SPY against +46.6% for WATT. Risk is not evenly split, since WATT carries 8.1 times the volatility of the other side.
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 WATT: side by side
| SPY (SPDR S&P 500 ETF Trust) | WATT (Energous Corporation) | |
|---|---|---|
| 1-year return | +20.6% | +46.6% |
| 5-year return | +82.4% | -99.2% |
| Volatility (ann.) | 14.5% | 117.2% |
| Beta vs S&P 500 | 1.00 | 1.35 |
| Max drawdown (3Y) | -18.8% | -95.3% |
| Market cap | – | $0.1B |
| 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 | WATT |
|---|---|---|
| 2022 | -18.2% | -33.1% |
| 2023 | +26.2% | -89.1% |
| 2024 | +24.9% | -44.8% |
| 2025 | +17.7% | -86.8% |
| 2026 | +13.7% | +196.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and WATT good diversifiers for each other?
Yes. With a correlation of 0.17, SPY and WATT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPY and WATT?
The SPY/WATT correlation stands at 0.17 on a 3-year window (1 year: 0.26, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is WATT a good diversifier for SPY?
Yes. With a correlation of 0.17, SPY and WATT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.17 mean?
On the −1 to +1 scale, 0.17 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-watt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-watt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · WATT correlations
