SPY vs WSM: Correlation
SPDR S&P 500 ETF Trust (SPY) and Williams-Sonoma, Inc. (WSM) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and WSM?
Over the past 3 years, SPY and WSM moved with a correlation of 0.45, which is moderate. The past 12 months show a weaker link (0.33) than the 3-year average (0.45). Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 278.4 %².
Among the 4755 assets we track against SPY, WSM ranks #752 by 3-year correlation. On 12-month performance WSM holds a 5.2-point edge, +20.6% against +25.8%. Across three years, the rolling one-year figure varied moderately, from 0.30 to 0.67. Note the risk asymmetry: WSM runs 3.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 WSM: side by side
| SPY (SPDR S&P 500 ETF Trust) | WSM (Williams-Sonoma, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +25.8% |
| 5-year return | +82.4% | +182.0% |
| Volatility (ann.) | 14.5% | 43.0% |
| Beta vs S&P 500 | 1.00 | 1.33 |
| Max drawdown (3Y) | -18.8% | -36.8% |
| Market cap | – | $28.1B |
| P/E (trailing) | – | 24.4 |
| Dividend yield | 1.01% | 0.56% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | Consumer Discretionary |
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 | WSM |
|---|---|---|
| 2022 | -18.2% | -30.5% |
| 2023 | +26.2% | +80.2% |
| 2024 | +24.9% | +86.6% |
| 2025 | +17.7% | -2.1% |
| 2026 | +13.7% | +34.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and WSM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and WSM?
As of 2026-08-27, the correlation of weekly returns between SPY and WSM is 0.45 over 3 years, 0.33 over 1 year and 0.53 over 5 years.
Is WSM a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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.
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[](https://www.pairbook.io/pair/spy-vs-wsm/)
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Related comparisons
Hubs: SPY correlations · WSM correlations
