SPY vs XXII: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and 22nd Century Group, Inc (XXII) trade together? Their weekly returns over three years give a correlation of 0.25, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and XXII?
On 3 years of weekly data the SPY/XXII correlation comes out at 0.25, weak. Little has changed lately, as the 1-year reading of 0.26 lands near the 3-year figure. The 5-year figure is 0.23, and annualized covariance runs at 431.0 %².
By 3-year correlation, XXII places #2786 of the 4755 assets tracked against SPY. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 120.0 percentage points (+20.6% for SPY against -99.4% for XXII). Note the risk asymmetry: XXII runs 8.2 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 XXII: side by side
| SPY (SPDR S&P 500 ETF Trust) | XXII (22nd Century Group, Inc) | |
|---|---|---|
| 1-year return | +20.6% | -99.4% |
| 5-year return | +82.4% | -100.0% |
| Volatility (ann.) | 14.5% | 119.0% |
| Beta vs S&P 500 | 1.00 | 2.06 |
| Max drawdown (3Y) | -18.8% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | 0.0 |
| 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 | XXII |
|---|---|---|
| 2022 | -18.2% | -70.2% |
| 2023 | +26.2% | -98.7% |
| 2024 | +24.9% | -98.7% |
| 2025 | +17.7% | -99.4% |
| 2026 | +13.7% | -98.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and XXII good diversifiers for each other?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and XXII?
The SPY/XXII correlation stands at 0.25 on a 3-year window (1 year: 0.26, 5 years: 0.23), computed from weekly returns as of 2026-08-27.
Is XXII a good diversifier for SPY?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.25 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-xxii.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-xxii/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPY correlations · XXII correlations
