AKR vs SPY: Correlation
Measured on weekly returns over the past three years, Acadia Realty Trust (AKR) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AKR and SPY?
Over the past 3 years, AKR and SPY moved with a correlation of 0.41, which is moderate. The link has loosened recently: the 1-year correlation (0.17) runs below the 3-year figure (0.41). Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 147.4 %².
Among the 17 assets we track against AKR, SPY ranks #12 by 3-year correlation. Over the last 12 months SPY came out ahead by 11.6 percentage points (+9.0% against +20.6%). Risk is not evenly split, since AKR carries 1.7 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.
AKR vs SPY: side by side
| AKR (Acadia Realty Trust) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +9.0% | +20.6% |
| 5-year return | +21.0% | +82.4% |
| Volatility (ann.) | 24.9% | 14.5% |
| Beta vs S&P 500 | 0.71 | 1.00 |
| Max drawdown (3Y) | -31.8% | -18.8% |
| Market cap | $3.0B | – |
| P/E (trailing) | 59.7 | – |
| Dividend yield | 3.80% | 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 | AKR | SPY |
|---|---|---|
| 2022 | -31.2% | -18.2% |
| 2023 | +24.4% | +26.2% |
| 2024 | +47.7% | +24.9% |
| 2025 | -11.5% | +17.7% |
| 2026 | +3.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AKR and SPY good diversifiers for each other?
Reasonably. At 0.41, AKR and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AKR and SPY?
As of 2026-08-27, the correlation of weekly returns between AKR and SPY is 0.41 over 3 years, 0.17 over 1 year and 0.54 over 5 years.
Is SPY a good diversifier for AKR?
Reasonably. At 0.41, AKR and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
A reading of 0.41 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: AKR correlations · SPY correlations
