SPY vs WLK: Correlation
SPDR S&P 500 ETF Trust (SPY) and Westlake Corporation (WLK) show a moderate relationship: their 3-year correlation of weekly returns is 0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and WLK?
Across a 3-year window, the weekly returns of SPY and WLK correlate at 0.30, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.08 versus 0.30 over 3 years. Stretching to 5 years gives 0.39, with an annualized covariance of 171.9 %².
Among the 4755 assets we track against SPY, WLK ranks #2257 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 32.4 percentage points (+20.6% for SPY against -11.8% for WLK). Risk is not evenly split, since WLK carries 2.7 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 WLK: side by side
| SPY (SPDR S&P 500 ETF Trust) | WLK (Westlake Corporation) | |
|---|---|---|
| 1-year return | +20.6% | -11.8% |
| 5-year return | +82.4% | -8.0% |
| Volatility (ann.) | 14.5% | 39.0% |
| Beta vs S&P 500 | 1.00 | 0.82 |
| Max drawdown (3Y) | -18.8% | -64.2% |
| Market cap | – | $9.4B |
| P/E (trailing) | – | – |
| Dividend yield | 1.01% | 2.84% |
| 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 | WLK |
|---|---|---|
| 2022 | -18.2% | +6.8% |
| 2023 | +26.2% | +38.4% |
| 2024 | +24.9% | -16.9% |
| 2025 | +17.7% | -33.8% |
| 2026 | +13.7% | +1.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and WLK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and WLK?
Using weekly returns as of 2026-08-27: 0.30 over 3 years, with 0.08 over the last year and 0.39 over 5 years.
Is WLK a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 mean?
A reading of 0.30 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-wlk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-wlk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · WLK correlations
