SPY vs WTFC: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Wintrust Financial Corporation (WTFC) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and WTFC?
On 3 years of weekly data the SPY/WTFC correlation comes out at 0.55, moderate. The link has loosened recently: the 1-year correlation (0.27) runs below the 3-year figure (0.55). The 5-year figure is 0.54, and annualized covariance runs at 221.4 %².
Within SPY's tracked universe of 4755 assets, WTFC comes in at #293 by 3-year correlation. On 12-month performance SPY holds a 7.9-point edge, +20.6% against +12.7%. Risk is not evenly split, since WTFC carries 1.9 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 WTFC: side by side
| SPY (SPDR S&P 500 ETF Trust) | WTFC (Wintrust Financial Corporation) | |
|---|---|---|
| 1-year return | +20.6% | +12.7% |
| 5-year return | +82.4% | +127.7% |
| Volatility (ann.) | 14.5% | 27.6% |
| Beta vs S&P 500 | 1.00 | 1.06 |
| Max drawdown (3Y) | -18.8% | -31.0% |
| Market cap | – | $10.3B |
| P/E (trailing) | – | 12.3 |
| Dividend yield | 1.01% | 1.37% |
| 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 | WTFC |
|---|---|---|
| 2022 | -18.2% | -5.5% |
| 2023 | +26.2% | +12.0% |
| 2024 | +24.9% | +36.8% |
| 2025 | +17.7% | +13.9% |
| 2026 | +13.7% | +10.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and WTFC good diversifiers for each other?
Only partially. A correlation of 0.55 means SPY and WTFC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between SPY and WTFC?
The SPY/WTFC correlation stands at 0.55 on a 3-year window (1 year: 0.27, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is WTFC a good diversifier for SPY?
Only partially. A correlation of 0.55 means SPY and WTFC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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
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Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: SPY correlations · WTFC correlations
