ADAM vs SPY: Correlation
How closely do Adamas Trust, Inc. (ADAM) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADAM and SPY?
On 3 years of weekly data the ADAM/SPY correlation comes out at 0.36, moderate. The relationship has been stable: the 1-year correlation (0.33) sits close to the 3-year figure. The 5-year figure is 0.52, and annualized covariance runs at 170.4 %².
Among the 12 assets we track against ADAM, SPY ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ADAM ahead by 36.6 points (+57.2% versus +20.6%). Risk is not evenly split, since ADAM carries 2.3 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.
ADAM vs SPY: side by side
| ADAM (Adamas Trust, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +57.2% | +20.6% |
| 5-year return | +6.4% | +82.4% |
| Volatility (ann.) | 32.7% | 14.5% |
| Beta vs S&P 500 | 0.82 | 1.00 |
| Max drawdown (3Y) | -38.7% | -18.8% |
| Market cap | $0.9B | – |
| P/E (trailing) | 5.8 | – |
| Dividend yield | 9.83% | 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 | ADAM | SPY |
|---|---|---|
| 2022 | -20.8% | -18.2% |
| 2023 | -5.5% | +26.2% |
| 2024 | -19.3% | +24.9% |
| 2025 | +36.5% | +17.7% |
| 2026 | +43.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADAM and SPY good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ADAM and SPY?
As of 2026-08-27, the correlation of weekly returns between ADAM and SPY is 0.36 over 3 years, 0.33 over 1 year and 0.52 over 5 years.
Is SPY a good diversifier for ADAM?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/adam-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/adam-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ADAM correlations · SPY correlations
