SPY vs WRN: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Western Copper and Gold Corporation (WRN) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and WRN?
Across a 3-year window, the weekly returns of SPY and WRN correlate at 0.27, weak. The past 12 months show a tighter link (0.48) than the 3-year average (0.27). Stretching to 5 years gives 0.29, with an annualized covariance of 207.2 %².
Within SPY's tracked universe of 4755 assets, WRN comes in at #2591 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WRN outperformed by 61.8 percentage points (+20.6% for SPY against +82.4% for WRN). Risk is not evenly split, since WRN carries 3.7 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 WRN: side by side
| SPY (SPDR S&P 500 ETF Trust) | WRN (Western Copper and Gold Corporation) | |
|---|---|---|
| 1-year return | +20.6% | +82.4% |
| 5-year return | +82.4% | +50.6% |
| Volatility (ann.) | 14.5% | 53.2% |
| Beta vs S&P 500 | 1.00 | 0.99 |
| Max drawdown (3Y) | -18.8% | -50.1% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 259.0 |
| Dividend yield | 1.01% | 0.00% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
SPY, State Street Investment Management's Large Blend fund, carries $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | WRN |
|---|---|---|
| 2022 | -18.2% | +14.1% |
| 2023 | +26.2% | -25.3% |
| 2024 | +24.9% | -21.1% |
| 2025 | +17.7% | +154.3% |
| 2026 | +13.7% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and WRN good diversifiers for each other?
Reasonably. At 0.27, SPY and WRN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and WRN?
As of 2026-08-27, the correlation of weekly returns between SPY and WRN is 0.27 over 3 years, 0.48 over 1 year and 0.29 over 5 years.
Is WRN a good diversifier for SPY?
Reasonably. At 0.27, SPY and WRN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.27 mean?
On the −1 to +1 scale, 0.27 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-wrn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-wrn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · WRN correlations
