ABG vs SPY: Correlation
Asbury Automotive Group Inc (ABG) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABG and SPY?
On 3 years of weekly data the ABG/SPY correlation comes out at 0.44, moderate. The past 12 months show a weaker link (0.18) than the 3-year average (0.44). The 5-year figure is 0.39, and annualized covariance runs at 212.4 %².
Out of 12 assets tracked against ABG, SPY lands near the bottom at #8. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 38.5 percentage points (-17.9% for ABG against +20.6% for SPY). One caveat on sizing: ABG is 2.3 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.
ABG vs SPY: side by side
| ABG (Asbury Automotive Group Inc) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -17.9% | +20.6% |
| 5-year return | +13.5% | +82.4% |
| Volatility (ann.) | 33.4% | 14.5% |
| Beta vs S&P 500 | 1.02 | 1.00 |
| Max drawdown (3Y) | -42.4% | -18.8% |
| Market cap | $3.8B | – |
| P/E (trailing) | 7.8 | – |
| Dividend yield | 0.00% | 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 | ABG | SPY |
|---|---|---|
| 2022 | +3.8% | -18.2% |
| 2023 | +25.5% | +26.2% |
| 2024 | +8.0% | +24.9% |
| 2025 | -4.3% | +17.7% |
| 2026 | -9.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABG and SPY good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ABG and SPY?
The ABG/SPY correlation stands at 0.44 on a 3-year window (1 year: 0.18, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for ABG?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 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.
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Related comparisons
Hubs: ABG correlations · SPY correlations
