ABX vs SPY: Correlation
Measured on weekly returns over the past three years, Abacus Global Management, Inc. (ABX) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.17, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABX and SPY?
Across a 3-year window, the weekly returns of ABX and SPY correlate at 0.17, weak. Little has changed lately, as the 1-year reading of 0.10 lands near the 3-year figure. Stretching to 5 years gives 0.11, with an annualized covariance of 137.1 %².
SPY is close to the least connected end of ABX's tracked universe, ranking #6 of 10. Correlation aside, the last 12 months split them widely, with ABX ahead by 26.0 points (+46.6% versus +20.6%). Risk is not evenly split, since ABX carries 3.8 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.
ABX vs SPY: side by side
| ABX (Abacus Global Management, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +46.6% | +20.6% |
| 5-year return | +3.8% | +82.4% |
| Volatility (ann.) | 54.5% | 14.5% |
| Beta vs S&P 500 | 0.66 | 1.00 |
| Max drawdown (3Y) | -62.8% | -18.8% |
| Market cap | $1.0B | – |
| P/E (trailing) | 36.4 | – |
| Dividend yield | 2.04% | 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 | ABX | SPY |
|---|---|---|
| 2022 | +2.9% | -18.2% |
| 2023 | -4.9% | +26.2% |
| 2024 | -18.9% | +24.9% |
| 2025 | +12.6% | +17.7% |
| 2026 | +15.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABX and SPY good diversifiers for each other?
Yes. With a correlation of 0.17, ABX and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ABX and SPY?
The ABX/SPY correlation stands at 0.17 on a 3-year window (1 year: 0.10, 5 years: 0.11), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for ABX?
Yes. With a correlation of 0.17, ABX and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.17 mean?
On the −1 to +1 scale, 0.17 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: ABX correlations · SPY correlations
