SPY vs WMK: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Weis Markets, Inc. (WMK) carry a correlation of 0.04, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and WMK?
On 3 years of weekly data the SPY/WMK correlation comes out at 0.04, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.07) runs below the 3-year figure (0.04). The 5-year figure is 0.13, and annualized covariance runs at 13.9 %².
By 3-year correlation, WMK places #4459 of the 4755 assets tracked against SPY. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 23.5 percentage points (+20.6% for SPY against -2.9% for WMK). Risk is not evenly split, since WMK carries 1.8 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 WMK: side by side
| SPY (SPDR S&P 500 ETF Trust) | WMK (Weis Markets, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -2.9% |
| 5-year return | +82.4% | +36.2% |
| Volatility (ann.) | 14.5% | 26.2% |
| Beta vs S&P 500 | 1.00 | 0.07 |
| Max drawdown (3Y) | -18.8% | -29.4% |
| Market cap | – | – |
| P/E (trailing) | – | 17.6 |
| Dividend yield | 1.01% | 1.92% |
| 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 | WMK |
|---|---|---|
| 2022 | -18.2% | +27.1% |
| 2023 | +26.2% | -20.8% |
| 2024 | +24.9% | +8.0% |
| 2025 | +17.7% | -3.6% |
| 2026 | +13.7% | +11.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and WMK good diversifiers for each other?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SPY and WMK?
The SPY/WMK correlation stands at 0.04 on a 3-year window (1 year: -0.07, 5 years: 0.13), computed from weekly returns as of 2026-08-27.
Is WMK a good diversifier for SPY?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.04 mean?
A reading of 0.04 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-wmk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-wmk/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPY correlations · WMK correlations
