SPY vs WT: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and WisdomTree, Inc. (WT) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and WT?
On 3 years of weekly data the SPY/WT correlation comes out at 0.50, moderate. Recent behaviour matches the longer record: 0.47 over 1 year against 0.50 over 3. The 5-year figure is 0.50, and annualized covariance runs at 245.2 %².
Within SPY's tracked universe of 4755 assets, WT comes in at #472 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WT ahead by 66.1 points (+20.6% versus +86.7%). Risk is not evenly split, since WT carries 2.4 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 WT: side by side
| SPY (SPDR S&P 500 ETF Trust) | WT (WisdomTree, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +86.7% |
| 5-year return | +82.4% | +330.3% |
| Volatility (ann.) | 14.5% | 34.2% |
| Beta vs S&P 500 | 1.00 | 1.17 |
| Max drawdown (3Y) | -18.8% | -36.9% |
| Market cap | – | $3.8B |
| P/E (trailing) | – | 44.7 |
| Dividend yield | 1.01% | 0.48% |
| 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 | WT |
|---|---|---|
| 2022 | -18.2% | -8.9% |
| 2023 | +26.2% | +29.6% |
| 2024 | +24.9% | +53.5% |
| 2025 | +17.7% | +17.4% |
| 2026 | +13.7% | +106.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and WT good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between SPY and WT?
The SPY/WT correlation stands at 0.50 on a 3-year window (1 year: 0.47, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is WT a good diversifier for SPY?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-wt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-wt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · WT correlations
