ABR vs SPY: Correlation
Measured on weekly returns over the past three years, Arbor Realty Trust (ABR) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.29, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABR and SPY?
On 3 years of weekly data the ABR/SPY correlation comes out at 0.29, weak. Recent behaviour matches the longer record: 0.24 over 1 year against 0.29 over 3. The 5-year figure is 0.43, and annualized covariance runs at 152.4 %².
SPY is close to the least connected end of ABR's tracked universe, ranking #8 of 12. The last year tells two different stories: SPY led by 72.1 percentage points, -51.5% for ABR against +20.6% for SPY. Note the risk asymmetry: ABR runs 2.5 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.
ABR vs SPY: side by side
| ABR (Arbor Realty Trust) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -51.5% | +20.6% |
| 5-year return | -50.7% | +82.4% |
| Volatility (ann.) | 36.0% | 14.5% |
| Beta vs S&P 500 | 0.73 | 1.00 |
| Max drawdown (3Y) | -62.0% | -18.8% |
| Market cap | $1.0B | – |
| P/E (trailing) | 55.9 | – |
| Dividend yield | 18.58% | 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 | ABR | SPY |
|---|---|---|
| 2022 | -20.7% | -18.2% |
| 2023 | +29.7% | +26.2% |
| 2024 | +3.2% | +24.9% |
| 2025 | -36.7% | +17.7% |
| 2026 | -28.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABR and SPY good diversifiers for each other?
Reasonably. At 0.29, ABR and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ABR and SPY?
Using weekly returns as of 2026-08-27: 0.29 over 3 years, with 0.24 over the last year and 0.43 over 5 years.
Is SPY a good diversifier for ABR?
Reasonably. At 0.29, ABR and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.29 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: ABR correlations · SPY correlations
