SPY vs WEST: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Westrock Coffee Company (WEST) trade together? Their weekly returns over three years give a correlation of 0.25, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and WEST?
Over the past 3 years, SPY and WEST moved with a correlation of 0.25, which is weak. The relationship has been stable: the 1-year correlation (0.33) sits close to the 3-year figure. Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 202.7 %².
Within SPY's tracked universe of 4755 assets, WEST comes in at #2784 by 3-year correlation. The last year tells two different stories: WEST led by 20.3 percentage points, +20.6% for SPY against +40.9% for WEST. Risk is not evenly split, since WEST carries 3.9 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 WEST: side by side
| SPY (SPDR S&P 500 ETF Trust) | WEST (Westrock Coffee Company) | |
|---|---|---|
| 1-year return | +20.6% | +40.9% |
| 5-year return | +82.4% | -16.8% |
| Volatility (ann.) | 14.5% | 56.4% |
| Beta vs S&P 500 | 1.00 | 0.97 |
| Max drawdown (3Y) | -18.8% | -66.7% |
| Market cap | – | $0.8B |
| 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 | WEST |
|---|---|---|
| 2022 | -18.2% | +37.2% |
| 2023 | +26.2% | -23.6% |
| 2024 | +24.9% | -37.1% |
| 2025 | +17.7% | -36.6% |
| 2026 | +13.7% | +98.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and WEST good diversifiers for each other?
Reasonably. At 0.25, SPY and WEST keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and WEST?
As of 2026-08-27, the correlation of weekly returns between SPY and WEST is 0.25 over 3 years, 0.33 over 1 year and 0.20 over 5 years.
Is WEST a good diversifier for SPY?
Reasonably. At 0.25, SPY and WEST keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.25 mean?
A reading of 0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-west.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-west/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPY correlations · WEST correlations
