SPYG vs TSLA: Correlation
Measured on weekly returns over the past three years, SPDR Portfolio S&P 500 Growth ETF (SPYG) and Tesla, Inc. (TSLA) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPYG and TSLA?
Across a 3-year window, the weekly returns of SPYG and TSLA correlate at 0.54, moderate. Little has changed lately, as the 1-year reading of 0.57 lands near the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 546.8 %².
By 3-year correlation, TSLA places #69 of the 97 assets tracked against SPYG. Their recent paths diverged sharply: over the last 12 months SPYG outperformed by 20.9 percentage points (+22.4% for SPYG against +1.5% for TSLA). The link looks structural: the rolling one-year correlation barely moved, holding between 0.43 and 0.63. Note the risk asymmetry: TSLA runs 2.9 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.
SPYG vs TSLA: side by side
| SPYG (SPDR Portfolio S&P 500 Growth ETF) | TSLA (Tesla, Inc.) | |
|---|---|---|
| 1-year return | +22.4% | +1.5% |
| 5-year return | +85.9% | +45.6% |
| Volatility (ann.) | 18.9% | 53.9% |
| Beta vs S&P 500 | 1.25 | 1.87 |
| Max drawdown (3Y) | -22.1% | -53.8% |
| Market cap | – | $1,401.3B |
| P/E (trailing) | – | 322.6 |
| Dividend yield | 0.49% | 0.00% |
| Expense ratio | 0.04% | – |
| Assets under management | $52.2B | – |
| Sector / category | ETF · US Style | Consumer Discretionary |
SPYG is a Large Growth fund from State Street Investment Management: $52.2B under management, 148 holdings, a 0.04% expense ratio, a 0.49% trailing dividend yield.
Year-by-year returns
| Year | SPYG | TSLA |
|---|---|---|
| 2022 | -29.4% | -65.0% |
| 2023 | +30.0% | +101.7% |
| 2024 | +36.0% | +62.5% |
| 2025 | +22.1% | +11.4% |
| 2026 | +14.5% | -21.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 1.69% of SPYG is TSLA itself, so the fund partly moves with the stock by construction.
Are SPYG and TSLA good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SPYG and TSLA?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.57 over the last year and 0.57 over 5 years.
Is TSLA a good diversifier for SPYG?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spyg-vs-tsla.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spyg-vs-tsla/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPYG correlations · TSLA correlations
