SPY vs YJ: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Yunji Inc. - American Depository Shares (YJ) carry a correlation of 0.06, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and YJ?
On 3 years of weekly data the SPY/YJ correlation comes out at 0.06, near zero, meaning they move largely independently. The link has tightened recently: the 1-year correlation (0.18) runs above the 3-year figure (0.06). The 5-year figure is 0.08, and annualized covariance runs at 117.5 %².
Within SPY's tracked universe of 4755 assets, YJ comes in at #4358 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months YJ outperformed by 62.7 percentage points (+20.6% for SPY against +83.3% for YJ). Note the risk asymmetry: YJ runs 9.6 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 YJ: side by side
| SPY (SPDR S&P 500 ETF Trust) | YJ (Yunji Inc. - American Depository Shares) | |
|---|---|---|
| 1-year return | +20.6% | +83.3% |
| 5-year return | +82.4% | -89.8% |
| Volatility (ann.) | 14.5% | 139.4% |
| Beta vs S&P 500 | 1.00 | 0.56 |
| Max drawdown (3Y) | -18.8% | -73.6% |
| Market cap | – | – |
| P/E (trailing) | – | 1.5 |
| Dividend yield | 1.01% | 0.00% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | YJ |
|---|---|---|
| 2022 | -18.2% | +30.7% |
| 2023 | +26.2% | -91.3% |
| 2024 | +24.9% | -43.4% |
| 2025 | +17.7% | -26.7% |
| 2026 | +13.7% | +170.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and YJ good diversifiers for each other?
Yes. With a correlation of 0.06, SPY and YJ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPY and YJ?
As of 2026-08-27, the correlation of weekly returns between SPY and YJ is 0.06 over 3 years, 0.18 over 1 year and 0.08 over 5 years.
Is YJ a good diversifier for SPY?
Yes. With a correlation of 0.06, SPY and YJ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.06 mean?
On the −1 to +1 scale, 0.06 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-yj.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-yj/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPY correlations · YJ correlations
