SPY vs WLY: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and John Wiley & Sons, Inc. (WLY) trade together? Their weekly returns over three years give a correlation of 0.21, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and WLY?
Across a 3-year window, the weekly returns of SPY and WLY correlate at 0.21, weak. Little has changed lately, as the 1-year reading of 0.14 lands near the 3-year figure. Stretching to 5 years gives 0.41, with an annualized covariance of 104.8 %².
Among the 4755 assets we track against SPY, WLY ranks #3199 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WLY outperformed by 17.6 percentage points (+20.6% for SPY against +38.2% for WLY). Risk is not evenly split, since WLY carries 2.3 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 WLY: side by side
| SPY (SPDR S&P 500 ETF Trust) | WLY (John Wiley & Sons, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +38.2% |
| 5-year return | +82.4% | +10.0% |
| Volatility (ann.) | 14.5% | 33.8% |
| Beta vs S&P 500 | 1.00 | 0.50 |
| Max drawdown (3Y) | -18.8% | -43.3% |
| Market cap | – | $2.7B |
| P/E (trailing) | – | 13.0 |
| Dividend yield | 1.01% | 2.67% |
| 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 | WLY |
|---|---|---|
| 2022 | -18.2% | -27.8% |
| 2023 | +26.2% | -17.5% |
| 2024 | +24.9% | +42.2% |
| 2025 | +17.7% | -27.2% |
| 2026 | +13.7% | +79.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and WLY good diversifiers for each other?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and WLY?
The SPY/WLY correlation stands at 0.21 on a 3-year window (1 year: 0.14, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is WLY a good diversifier for SPY?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.21 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.
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Related comparisons
Hubs: SPY correlations · WLY correlations
