AIN vs SPY: Correlation
Albany International Corporation (AIN) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIN and SPY?
Across a 3-year window, the weekly returns of AIN and SPY correlate at 0.45, moderate. The link has loosened recently: the 1-year correlation (0.17) runs below the 3-year figure (0.45). Stretching to 5 years gives 0.49, with an annualized covariance of 236.4 %².
Among the 20 assets we track against AIN, SPY ranks #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 26.2 points (-5.6% versus +20.6%). Note the risk asymmetry: AIN runs 2.5 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.
AIN vs SPY: side by side
| AIN (Albany International Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -5.6% | +20.6% |
| 5-year return | -19.2% | +82.4% |
| Volatility (ann.) | 36.2% | 14.5% |
| Beta vs S&P 500 | 1.13 | 1.00 |
| Max drawdown (3Y) | -57.1% | -18.8% |
| Market cap | $1.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.88% | 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 | AIN | SPY |
|---|---|---|
| 2022 | +12.6% | -18.2% |
| 2023 | +0.7% | +26.2% |
| 2024 | -17.6% | +24.9% |
| 2025 | -35.5% | +17.7% |
| 2026 | +17.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIN and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AIN and SPY?
As of 2026-08-27, the correlation of weekly returns between AIN and SPY is 0.45 over 3 years, 0.17 over 1 year and 0.49 over 5 years.
Is SPY a good diversifier for AIN?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 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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Hubs: AIN correlations · SPY correlations
