AIZ vs SPY: Correlation
Assurant (AIZ) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIZ and SPY?
On 3 years of weekly data the AIZ/SPY correlation comes out at 0.40, moderate. The past 12 months show a weaker link (0.25) than the 3-year average (0.40). The 5-year figure is 0.43, and annualized covariance runs at 124.7 %².
Within AIZ's tracked universe of 34 assets, SPY comes in at #22 by 3-year correlation. The trailing year gives AIZ the advantage: +34.1% versus +20.6%, a 13.5-point spread. Across three years, the rolling one-year figure varied moderately, from 0.16 to 0.56.
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.
AIZ vs SPY: side by side
| AIZ (Assurant) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +34.1% | +20.6% |
| 5-year return | +83.5% | +82.4% |
| Volatility (ann.) | 21.5% | 14.5% |
| Beta vs S&P 500 | 0.60 | 1.00 |
| Max drawdown (3Y) | -20.8% | -18.8% |
| Market cap | $14.1B | – |
| P/E (trailing) | 13.8 | – |
| Dividend yield | 1.19% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Financials | 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 | AIZ | SPY |
|---|---|---|
| 2022 | -18.3% | -18.2% |
| 2023 | +37.5% | +26.2% |
| 2024 | +28.5% | +24.9% |
| 2025 | +14.7% | +17.7% |
| 2026 | +19.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIZ and SPY good diversifiers for each other?
Reasonably. At 0.40, AIZ and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AIZ and SPY?
As of 2026-08-27, the correlation of weekly returns between AIZ and SPY is 0.40 over 3 years, 0.25 over 1 year and 0.43 over 5 years.
Is SPY a good diversifier for AIZ?
Reasonably. At 0.40, AIZ and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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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Related comparisons
Hubs: AIZ correlations · SPY correlations
