SPY vs WFCF: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Where Food Comes From, Inc. (WFCF) trade together? Their weekly returns over three years give a correlation of 0.07, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and WFCF?
On 3 years of weekly data the SPY/WFCF correlation comes out at 0.07, near zero, meaning they move largely independently. Lately the two have moved closer together, with the 1-year correlation at 0.19 versus 0.07 over 3 years. The 5-year figure is 0.06, and annualized covariance runs at 57.2 %².
By 3-year correlation, WFCF places #4302 of the 4755 assets tracked against SPY. Over the last 12 months SPY came out ahead by 10.2 percentage points (+20.6% against +10.4%). One caveat on sizing: WFCF is 3.9 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 WFCF: side by side
| SPY (SPDR S&P 500 ETF Trust) | WFCF (Where Food Comes From, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +10.4% |
| 5-year return | +82.4% | +0.4% |
| Volatility (ann.) | 14.5% | 57.1% |
| Beta vs S&P 500 | 1.00 | 0.27 |
| Max drawdown (3Y) | -18.8% | -49.1% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 45.7 |
| Dividend yield | 1.01% | 0.00% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
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 | WFCF |
|---|---|---|
| 2022 | -18.2% | -3.7% |
| 2023 | +26.2% | -3.0% |
| 2024 | +24.9% | -2.3% |
| 2025 | +17.7% | -13.2% |
| 2026 | +13.7% | +15.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and WFCF good diversifiers for each other?
Yes: at 0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SPY and WFCF?
As of 2026-08-27, the correlation of weekly returns between SPY and WFCF is 0.07 over 3 years, 0.19 over 1 year and 0.06 over 5 years.
Is WFCF a good diversifier for SPY?
Yes: at 0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.07 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-wfcf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-wfcf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · WFCF correlations
