PAYO vs. SPY
PAYO (Payoneer Global Inc.) is a stock, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 3 years, PAYO returned 13.31%/yr vs 20.86%/yr for SPY. At a 0.46 correlation, their price movements are largely independent.
Performance
PAYO vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, PAYO achieves a 20.11% return, which is significantly higher than SPY's 9.07% return.
PAYO
- 1D
- 0.00%
- 1M
- 36.92%
- YTD
- 20.11%
- 6M
- 13.26%
- 1Y
- -2.17%
- 3Y*
- 13.31%
- 5Y*
- —
- 10Y*
- —
SPY
- 1D
- 0.54%
- 1M
- -0.08%
- YTD
- 9.07%
- 6M
- 9.42%
- 1Y
- 24.27%
- 3Y*
- 20.86%
- 5Y*
- 13.36%
- 10Y*
- 15.42%
PAYO vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PAYO Payoneer Global Inc. | 20.11% | -44.02% | 92.71% | -4.75% | -25.58% | -34.08% |
SPY State Street SPDR S&P 500 ETF | 9.07% | 17.72% | 24.89% | 26.18% | -18.18% | 12.08% |
Correlation
The correlation between PAYO and SPY is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2021 | 0.46 |
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Return for Risk
PAYO vs. SPY — Risk / Return Rank
PAYO
SPY
PAYO vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Payoneer Global Inc. (PAYO) and State Street SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PAYO | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.02 | ||
| Sortino ratioReturn per unit of downside risk | -2.35 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.36 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 2.74 | -2.79 |
| Martin ratioReturn relative to average drawdown | -0.09 | 12.39 | -12.48 |
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Drawdowns
PAYO vs. SPY - Drawdown Comparison
The maximum PAYO drawdown since its inception was -69.06%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PAYO and SPY.
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Drawdown Indicators
| PAYO | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.06% | -55.19% | -13.87% |
Max Drawdown (1Y)Largest decline over 1 year | -42.45% | -8.88% | -33.57% |
Max Drawdown (3Y)Largest decline over 3 years | -61.36% | -18.76% | -42.60% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -39.46% | -2.35% | -37.11% |
Average DrawdownAverage peak-to-trough decline | -43.06% | -9.04% | -34.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.76% | 1.97% | +21.79% |
Volatility
PAYO vs. SPY - Volatility Comparison
Payoneer Global Inc. (PAYO) has a higher volatility of 24.55% compared to State Street SPDR S&P 500 ETF (SPY) at 4.34%. This indicates that PAYO's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAYO | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.55% | 4.34% | +20.21% |
Volatility (6M)Calculated over the trailing 6-month period | 43.67% | 9.58% | +34.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.15% | 12.29% | +40.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.64% | 17.12% | +39.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.64% | 17.96% | +38.68% |
Dividends
PAYO vs. SPY - Dividend Comparison
PAYO has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.00%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAYO Payoneer Global Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.00% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
PAYO and SPY have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PAYO has higher volatility (24.55%) compared to SPY (4.34%). In terms of maximum drawdown, PAYO dropped -69.06% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.98 vs -0.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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