AAMI vs SPY: Correlation
How closely do Acadian Asset Management Inc. (AAMI) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAMI and SPY?
Across a 3-year window, the weekly returns of AAMI and SPY correlate at 0.56, moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 272.3 %².
Within AAMI's tracked universe of 12 assets, SPY comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AAMI outperformed by 72.3 percentage points (+92.9% for AAMI against +20.6% for SPY). Risk is not evenly split, since AAMI carries 2.3 times the volatility of the other side.
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.
AAMI vs SPY: side by side
| AAMI (Acadian Asset Management Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +92.9% | +20.6% |
| 5-year return | +260.9% | +82.4% |
| Volatility (ann.) | 33.4% | 14.5% |
| Beta vs S&P 500 | 1.30 | 1.00 |
| Max drawdown (3Y) | -26.5% | -18.8% |
| Market cap | $3.5B | – |
| P/E (trailing) | 33.8 | – |
| Dividend yield | 0.32% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
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 | AAMI | SPY |
|---|---|---|
| 2022 | -19.4% | -18.2% |
| 2023 | -6.7% | +26.2% |
| 2024 | +37.7% | +24.9% |
| 2025 | +78.6% | +17.7% |
| 2026 | +107.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAMI and SPY good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AAMI and SPY?
As of 2026-08-27, the correlation of weekly returns between AAMI and SPY is 0.56 over 3 years, 0.51 over 1 year and 0.57 over 5 years.
Is SPY a good diversifier for AAMI?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
A reading of 0.56 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aami-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aami-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AAMI correlations · SPY correlations
