Benchmark  United States  NYSE  11,130   13.4346  -0.1206% 

Collecting data for SPY and ^GSPC ...

Correlation analysis between SPDR and SP 500  

Investment horizon:  
  30 Days    Login   to change
This module allows you to analyze existing cross correlation between SPDR SP 500 ETF and S&P 500. You can compare the effects of market volatilities on SPDR and SP 500 and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in SPDR with a short position of SP 500. Please also check ongoing floating volatility patterns of SPDR and SP 500.
 SPDR S&P 500 ETF  vs   S&P 500
Daily Returns (%)
Benchmark  Embed   Timeline 
Considering 30-days investment horizon, SPDR SP 500 ETF is expected to generate 0.78 times more return on investment than SP 500. However, SPDR SP 500 ETF is 1.28 times less risky than SP 500. It trades about 0.05 of its potential returns per unit of risk. S&P 500 is currently generating about 0.02 per unit of risk. If you would invest  21,144  in SPDR SP 500 ETF on April 28, 2015 and sell it today you would earn a total of  101.00  from holding SPDR SP 500 ETF or generate 0.48% return on investment over 30 days.

Correlation Coefficient



Time Period1 Month [change]
DirectionPositive ^GSPC Moved Up vs SPY
ValuesDaily Returns


Significant diversification

Overlapping area represents amount of risk that can be diversified away by holding SPDR S&P 500 ETF and S&P 500 in the same portfolio assuming nothing else is changed

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
Benchmark  Embed   Returns 



Risk-adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in SPDR SP 500 ETF are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for SPDR

Vanguard Total Stock Market ETF vs. SPDR SP 500 ETF
Vanguard Dividend Appreciation ETF vs. SPDR SP 500 ETF
iShares Russell 1000 vs. SPDR SP 500 ETF
Vanguard Large Cap ETF vs. SPDR SP 500 ETF
iShares Russell 3000 vs. SPDR SP 500 ETF
PowerShares Buyback Achievers ETF vs. SPDR SP 500 ETF

S&P 500


Pair trading matchups for SP 500

Guggenheim SP 500 Pure Growth ETF vs. S&P 500
Vanguard Russell 1000 Growth ETF vs. S&P 500
National Grid plc vs. S&P 500
LyondellBasell Industries NV vs. S&P 500
Emera Incorporated vs. S&P 500
The Bank of Nova Scotia vs. S&P 500