SPY vs YIBO: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Planet Image International Limited - Class A (YIBO) trade together? Their weekly returns over three years give a correlation of 0.11, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and YIBO?
Over the past 3 years, SPY and YIBO moved with a correlation of 0.11, which is weak. The past 12 months show a weaker link (-0.01) than the 3-year average (0.11). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 168.7 %².
Among the 4755 assets we track against SPY, YIBO ranks #4055 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 26.5 percentage points (+20.6% for SPY against -5.9% for YIBO). Note the risk asymmetry: YIBO runs 7.6 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 YIBO: side by side
| SPY (SPDR S&P 500 ETF Trust) | YIBO (Planet Image International Limited - Class A) | |
|---|---|---|
| 1-year return | +20.6% | -5.9% |
| 5-year return | +82.4% | n/a |
| Volatility (ann.) | 14.5% | 109.6% |
| Beta vs S&P 500 | 1.00 | 0.81 |
| Max drawdown (3Y) | -18.8% | -85.6% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| 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 | YIBO |
|---|---|---|
| 2022 | -18.2% | – |
| 2023 | +26.2% | – |
| 2024 | +24.9% | – |
| 2025 | +17.7% | -72.1% |
| 2026 | +13.7% | +26.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and YIBO good diversifiers for each other?
Yes. With a correlation of 0.11, SPY and YIBO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPY and YIBO?
Using weekly returns as of 2026-08-27: 0.11 over 3 years, with -0.01 over the last year and n/a over 5 years.
Is YIBO a good diversifier for SPY?
Yes. With a correlation of 0.11, SPY and YIBO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.11 mean?
On the −1 to +1 scale, 0.11 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-yibo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-yibo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · YIBO correlations
