SPY vs WHR: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Whirlpool Corporation (WHR) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and WHR?
On 3 years of weekly data the SPY/WHR correlation comes out at 0.34, moderate. The relationship has been stable: the 1-year correlation (0.32) sits close to the 3-year figure. The 5-year figure is 0.44, and annualized covariance runs at 227.1 %².
By 3-year correlation, WHR places #1819 of the 4755 assets tracked against SPY. The last year tells two different stories: SPY led by 77.1 percentage points, +20.6% for SPY against -56.5% for WHR. Risk is not evenly split, since WHR carries 3.1 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 WHR: side by side
| SPY (SPDR S&P 500 ETF Trust) | WHR (Whirlpool Corporation) | |
|---|---|---|
| 1-year return | +20.6% | -56.5% |
| 5-year return | +82.4% | -77.3% |
| Volatility (ann.) | 14.5% | 45.6% |
| Beta vs S&P 500 | 1.00 | 1.09 |
| Max drawdown (3Y) | -18.8% | -71.1% |
| Market cap | – | $2.6B |
| P/E (trailing) | – | 13.1 |
| Dividend yield | 1.01% | 6.73% |
| 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 | WHR |
|---|---|---|
| 2022 | -18.2% | -37.2% |
| 2023 | +26.2% | -9.1% |
| 2024 | +24.9% | +0.6% |
| 2025 | +17.7% | -33.0% |
| 2026 | +13.7% | -44.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and WHR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and WHR?
As of 2026-08-27, the correlation of weekly returns between SPY and WHR is 0.34 over 3 years, 0.32 over 1 year and 0.44 over 5 years.
Is WHR a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 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
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Related comparisons
Hubs: SPY correlations · WHR correlations
