ACNT vs SPY: Correlation
Measured on weekly returns over the past three years, Ascent Industries Co. (ACNT) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.04, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACNT and SPY?
On 3 years of weekly data the ACNT/SPY correlation comes out at 0.04, near zero, meaning they move largely independently. The past 12 months show a tighter link (0.24) than the 3-year average (0.04). The 5-year figure is 0.15, and annualized covariance runs at 19.2 %².
Among the 16 assets we track against ACNT, SPY ranks #6 by 3-year correlation. The trailing year gives ACNT the advantage: +31.0% versus +20.6%, a 10.4-point spread. Note the risk asymmetry: ACNT runs 2.2 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.
ACNT vs SPY: side by side
| ACNT (Ascent Industries Co.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +31.0% | +20.6% |
| 5-year return | +37.0% | +82.4% |
| Volatility (ann.) | 31.2% | 14.5% |
| Beta vs S&P 500 | 0.09 | 1.00 |
| Max drawdown (3Y) | -31.8% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| 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 | ACNT | SPY |
|---|---|---|
| 2022 | -47.2% | -18.2% |
| 2023 | +10.3% | +26.2% |
| 2024 | +16.9% | +24.9% |
| 2025 | +44.8% | +17.7% |
| 2026 | -2.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACNT and SPY good diversifiers for each other?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ACNT and SPY?
The ACNT/SPY correlation stands at 0.04 on a 3-year window (1 year: 0.24, 5 years: 0.15), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for ACNT?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.04 mean?
A reading of 0.04 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Hubs: ACNT correlations · SPY correlations
