ACT vs SPY: Correlation
How closely do Enact Holdings, Inc. (ACT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACT and SPY?
Over the past 3 years, ACT and SPY moved with a correlation of 0.34, which is moderate. The past 12 months show a weaker link (0.05) than the 3-year average (0.34). Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 96.2 %².
Among the 12 assets we track against ACT, SPY sits near the bottom by co-movement, at rank #8. On 12-month performance ACT holds a 10.7-point edge, +31.3% against +20.6%.
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.
ACT vs SPY: side by side
| ACT (Enact Holdings, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +31.3% | +20.6% |
| 5-year return | +200.2% | +82.4% |
| Volatility (ann.) | 19.7% | 14.5% |
| Beta vs S&P 500 | 0.46 | 1.00 |
| Max drawdown (3Y) | -15.3% | -18.8% |
| Market cap | $6.7B | – |
| P/E (trailing) | 10.4 | – |
| Dividend yield | 1.77% | 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 | ACT | SPY |
|---|---|---|
| 2022 | +24.1% | -18.2% |
| 2023 | +25.8% | +26.2% |
| 2024 | +14.7% | +24.9% |
| 2025 | +25.2% | +17.7% |
| 2026 | +25.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACT and SPY good diversifiers for each other?
Reasonably. At 0.34, ACT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ACT and SPY?
The ACT/SPY correlation stands at 0.34 on a 3-year window (1 year: 0.05, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for ACT?
Reasonably. At 0.34, ACT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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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Hubs: ACT correlations · SPY correlations
