SPY vs ZJYL: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and JIN MEDICAL INTERNATIONAL LTD. - Class A (ZJYL) trade together? Their weekly returns over three years give a correlation of 0.07, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and ZJYL?
Over the past 3 years, SPY and ZJYL moved with a correlation of 0.07, which is near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.12 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 257.6 %².
By 3-year correlation, ZJYL places #4304 of the 4755 assets tracked against SPY. The last year tells two different stories: SPY led by 106.3 percentage points, +20.6% for SPY against -85.7% for ZJYL. One caveat on sizing: ZJYL is 18.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 ZJYL: side by side
| SPY (SPDR S&P 500 ETF Trust) | ZJYL (JIN MEDICAL INTERNATIONAL LTD. - Class A) | |
|---|---|---|
| 1-year return | +20.6% | -85.7% |
| 5-year return | +82.4% | n/a |
| Volatility (ann.) | 14.5% | 270.7% |
| Beta vs S&P 500 | 1.00 | 1.23 |
| Max drawdown (3Y) | -18.8% | -99.3% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 13.1 |
| 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 | ZJYL |
|---|---|---|
| 2022 | -18.2% | – |
| 2023 | +26.2% | – |
| 2024 | +24.9% | -93.7% |
| 2025 | +17.7% | -71.7% |
| 2026 | +13.7% | -46.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and ZJYL good diversifiers for each other?
Yes. With a correlation of 0.07, SPY and ZJYL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPY and ZJYL?
Using weekly returns as of 2026-08-27: 0.07 over 3 years, with 0.12 over the last year and n/a over 5 years.
Is ZJYL a good diversifier for SPY?
Yes. With a correlation of 0.07, SPY and ZJYL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.07 mean?
On the −1 to +1 scale, 0.07 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-zjyl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-zjyl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · ZJYL correlations
