SPY vs WOOF: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Petco Health and Wellness Company, Inc. (WOOF) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and WOOF?
On 3 years of weekly data the SPY/WOOF correlation comes out at 0.27, weak. Recent behaviour matches the longer record: 0.18 over 1 year against 0.27 over 3. The 5-year figure is 0.30, and annualized covariance runs at 323.3 %².
Within SPY's tracked universe of 4755 assets, WOOF comes in at #2590 by 3-year correlation. The last year tells two different stories: SPY led by 35.9 percentage points, +20.6% for SPY against -15.3% for WOOF. One caveat on sizing: WOOF is 5.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 WOOF: side by side
| SPY (SPDR S&P 500 ETF Trust) | WOOF (Petco Health and Wellness Company, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -15.3% |
| 5-year return | +82.4% | -87.2% |
| Volatility (ann.) | 14.5% | 84.1% |
| Beta vs S&P 500 | 1.00 | 1.55 |
| Max drawdown (3Y) | -18.8% | -72.3% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 135.5 |
| Dividend yield | 1.01% | 0.00% |
| 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 | WOOF |
|---|---|---|
| 2022 | -18.2% | -52.1% |
| 2023 | +26.2% | -66.7% |
| 2024 | +24.9% | +20.6% |
| 2025 | +17.7% | -26.2% |
| 2026 | +13.7% | -3.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and WOOF good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and WOOF?
Using weekly returns as of 2026-08-27: 0.27 over 3 years, with 0.18 over the last year and 0.30 over 5 years.
Is WOOF a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 mean?
A reading of 0.27 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-woof.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-woof/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · WOOF correlations
