AHRT vs SPY: Correlation
AH Realty Trust, Inc. (AHRT) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AHRT and SPY?
Over the past 3 years, AHRT and SPY moved with a correlation of 0.43, which is moderate. The link has loosened recently: the 1-year correlation (0.31) runs below the 3-year figure (0.43). Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 170.9 %².
By 3-year correlation, SPY places #7 of the 13 assets tracked against AHRT. Correlation aside, the last 12 months split them widely, with SPY ahead by 20.1 points (+0.5% versus +20.6%). Note the risk asymmetry: AHRT runs 1.9 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.
AHRT vs SPY: side by side
| AHRT (AH Realty Trust, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +0.5% | +20.6% |
| 5-year return | -29.6% | +82.4% |
| Volatility (ann.) | 27.4% | 14.5% |
| Beta vs S&P 500 | 0.82 | 1.00 |
| Max drawdown (3Y) | -52.0% | -18.8% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 8.35% | 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 | AHRT | SPY |
|---|---|---|
| 2022 | -19.9% | -18.2% |
| 2023 | +15.0% | +26.2% |
| 2024 | -10.8% | +24.9% |
| 2025 | -30.0% | +17.7% |
| 2026 | +4.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AHRT and SPY good diversifiers for each other?
Reasonably. At 0.43, AHRT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AHRT and SPY?
As of 2026-08-27, the correlation of weekly returns between AHRT and SPY is 0.43 over 3 years, 0.31 over 1 year and 0.52 over 5 years.
Is SPY a good diversifier for AHRT?
Reasonably. At 0.43, AHRT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 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: AHRT correlations · SPY correlations
