SPY vs YETI: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and YETI Holdings, Inc. (YETI) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and YETI?
On 3 years of weekly data the SPY/YETI correlation comes out at 0.43, moderate. The relationship has been stable: the 1-year correlation (0.38) sits close to the 3-year figure. The 5-year figure is 0.54, and annualized covariance runs at 245.5 %².
By 3-year correlation, YETI places #921 of the 4755 assets tracked against SPY. Over the last 12 months SPY came out ahead by 5.0 percentage points (+20.6% against +15.6%). Risk is not evenly split, since YETI carries 2.8 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 YETI: side by side
| SPY (SPDR S&P 500 ETF Trust) | YETI (YETI Holdings, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +15.6% |
| 5-year return | +82.4% | -58.8% |
| Volatility (ann.) | 14.5% | 39.9% |
| Beta vs S&P 500 | 1.00 | 1.17 |
| Max drawdown (3Y) | -18.8% | -49.7% |
| Market cap | – | $3.1B |
| P/E (trailing) | – | 18.4 |
| Dividend yield | 1.01% | 0.00% |
| 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 | YETI |
|---|---|---|
| 2022 | -18.2% | -50.1% |
| 2023 | +26.2% | +25.3% |
| 2024 | +24.9% | -25.6% |
| 2025 | +17.7% | +14.7% |
| 2026 | +13.7% | -5.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and YETI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and YETI?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.38 over the last year and 0.54 over 5 years.
Is YETI a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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-yeti.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-yeti/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPY correlations · YETI correlations
