SPY vs WFRD: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Weatherford International plc (WFRD) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and WFRD?
Across a 3-year window, the weekly returns of SPY and WFRD correlate at 0.41, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.20 versus 0.41 over 3 years. Stretching to 5 years gives 0.29, with an annualized covariance of 274.7 %².
By 3-year correlation, WFRD places #1097 of the 4755 assets tracked against SPY. Their recent paths diverged sharply: over the last 12 months WFRD outperformed by 25.5 percentage points (+20.6% for SPY against +46.1% for WFRD). Risk is not evenly split, since WFRD carries 3.2 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 WFRD: side by side
| SPY (SPDR S&P 500 ETF Trust) | WFRD (Weatherford International plc) | |
|---|---|---|
| 1-year return | +20.6% | +46.1% |
| 5-year return | +82.4% | +495.5% |
| Volatility (ann.) | 14.5% | 46.3% |
| Beta vs S&P 500 | 1.00 | 1.32 |
| Max drawdown (3Y) | -18.8% | -70.6% |
| Market cap | – | $6.6B |
| P/E (trailing) | – | 17.4 |
| Dividend yield | 1.01% | 1.19% |
| 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 | WFRD |
|---|---|---|
| 2022 | -18.2% | +83.7% |
| 2023 | +26.2% | +92.1% |
| 2024 | +24.9% | -26.4% |
| 2025 | +17.7% | +11.1% |
| 2026 | +13.7% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and WFRD good diversifiers for each other?
Reasonably. At 0.41, SPY and WFRD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and WFRD?
As of 2026-08-27, the correlation of weekly returns between SPY and WFRD is 0.41 over 3 years, 0.20 over 1 year and 0.29 over 5 years.
Is WFRD a good diversifier for SPY?
Reasonably. At 0.41, SPY and WFRD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 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-wfrd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-wfrd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · WFRD correlations
