AGYS vs SPY: Correlation
Measured on weekly returns over the past three years, Agilysys, Inc. (AGYS) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.18, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGYS and SPY?
Across a 3-year window, the weekly returns of AGYS and SPY correlate at 0.18, weak. Recent behaviour matches the longer record: 0.09 over 1 year against 0.18 over 3. Stretching to 5 years gives 0.21, with an annualized covariance of 127.8 %².
SPY is close to the least connected end of AGYS's tracked universe, ranking #7 of 10. Over the last 12 months SPY came out ahead by 10.4 percentage points (+10.2% against +20.6%). Note the risk asymmetry: AGYS runs 3.3 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.
AGYS vs SPY: side by side
| AGYS (Agilysys, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +10.2% | +20.6% |
| 5-year return | +112.4% | +82.4% |
| Volatility (ann.) | 48.2% | 14.5% |
| Beta vs S&P 500 | 0.61 | 1.00 |
| Max drawdown (3Y) | -56.1% | -18.8% |
| Market cap | $3.4B | – |
| P/E (trailing) | 75.3 | – |
| 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 | AGYS | SPY |
|---|---|---|
| 2022 | +78.0% | -18.2% |
| 2023 | +7.2% | +26.2% |
| 2024 | +55.3% | +24.9% |
| 2025 | -9.8% | +17.7% |
| 2026 | +1.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGYS and SPY good diversifiers for each other?
Yes. With a correlation of 0.18, AGYS and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AGYS and SPY?
Using weekly returns as of 2026-08-27: 0.18 over 3 years, with 0.09 over the last year and 0.21 over 5 years.
Is SPY a good diversifier for AGYS?
Yes. With a correlation of 0.18, AGYS and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.18 mean?
A reading of 0.18 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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Related comparisons
Hubs: AGYS correlations · SPY correlations
