ACR vs SPY: Correlation
Measured on weekly returns over the past three years, ACRES Commercial Realty Corp. (ACR) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.13, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACR and SPY?
Across a 3-year window, the weekly returns of ACR and SPY correlate at 0.13, weak. The past 12 months show a weaker link (-0.03) than the 3-year average (0.13). Stretching to 5 years gives 0.28, with an annualized covariance of 61.8 %².
Within ACR's tracked universe of 13 assets, SPY comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 53.0 points (-32.4% versus +20.6%). Note the risk asymmetry: ACR runs 2.3 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.
ACR vs SPY: side by side
| ACR (ACRES Commercial Realty Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -32.4% | +20.6% |
| 5-year return | -14.8% | +82.4% |
| Volatility (ann.) | 32.9% | 14.5% |
| Beta vs S&P 500 | 0.30 | 1.00 |
| Max drawdown (3Y) | -41.3% | -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 | ACR | SPY |
|---|---|---|
| 2022 | -33.8% | -18.2% |
| 2023 | +16.5% | +26.2% |
| 2024 | +67.9% | +24.9% |
| 2025 | +32.1% | +17.7% |
| 2026 | -33.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACR and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
FAQ
What is the correlation between ACR and SPY?
Using weekly returns as of 2026-08-27: 0.13 over 3 years, with -0.03 over the last year and 0.28 over 5 years.
Is SPY a good diversifier for ACR?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
What does a correlation of 0.13 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: ACR correlations · SPY correlations
