SPY vs YELP: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Yelp Inc. (YELP) carry a correlation of 0.25, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and YELP?
On 3 years of weekly data the SPY/YELP correlation comes out at 0.25, weak. Little has changed lately, as the 1-year reading of 0.21 lands near the 3-year figure. The 5-year figure is 0.38, and annualized covariance runs at 118.3 %².
Among the 4755 assets we track against SPY, YELP ranks #2787 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 49.2 percentage points (+20.6% for SPY against -28.6% for YELP). Note the risk asymmetry: YELP runs 2.2 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 YELP: side by side
| SPY (SPDR S&P 500 ETF Trust) | YELP (Yelp Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -28.6% |
| 5-year return | +82.4% | -41.2% |
| Volatility (ann.) | 14.5% | 32.4% |
| Beta vs S&P 500 | 1.00 | 0.57 |
| Max drawdown (3Y) | -18.8% | -59.2% |
| Market cap | – | $1.2B |
| P/E (trailing) | – | 10.9 |
| 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 | YELP |
|---|---|---|
| 2022 | -18.2% | -24.6% |
| 2023 | +26.2% | +73.2% |
| 2024 | +24.9% | -18.3% |
| 2025 | +17.7% | -21.5% |
| 2026 | +13.7% | -25.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and YELP 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 YELP?
As of 2026-08-27, the correlation of weekly returns between SPY and YELP is 0.25 over 3 years, 0.21 over 1 year and 0.38 over 5 years.
Is YELP 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?
On the −1 to +1 scale, 0.25 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-yelp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-yelp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · YELP correlations
