ACA vs SPY: Correlation
Measured on weekly returns over the past three years, Arcosa, Inc. (ACA) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACA and SPY?
On 3 years of weekly data the ACA/SPY correlation comes out at 0.56, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.29 versus 0.56 over 3 years. The 5-year figure is 0.50, and annualized covariance runs at 257.8 %².
Among the 23 assets we track against ACA, SPY ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ACA outperformed by 26.4 percentage points (+47.0% for ACA against +20.6% for SPY). Risk is not evenly split, since ACA carries 2.2 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.
ACA vs SPY: side by side
| ACA (Arcosa, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +47.0% | +20.6% |
| 5-year return | +186.5% | +82.4% |
| Volatility (ann.) | 31.9% | 14.5% |
| Beta vs S&P 500 | 1.23 | 1.00 |
| Max drawdown (3Y) | -36.6% | -18.8% |
| Market cap | $7.1B | – |
| P/E (trailing) | 32.5 | – |
| Dividend yield | 0.14% | 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 | ACA | SPY |
|---|---|---|
| 2022 | +3.5% | -18.2% |
| 2023 | +52.5% | +26.2% |
| 2024 | +17.3% | +24.9% |
| 2025 | +10.2% | +17.7% |
| 2026 | +37.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACA 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 ACA and SPY?
The ACA/SPY correlation stands at 0.56 on a 3-year window (1 year: 0.29, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for ACA?
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?
On the −1 to +1 scale, 0.56 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: ACA correlations · SPY correlations
