ALB vs SPY: Correlation
How closely do Albemarle Corporation (ALB) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALB and SPY?
On 3 years of weekly data the ALB/SPY correlation comes out at 0.43, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.30 versus 0.43 over 3 years. The 5-year figure is 0.50, and annualized covariance runs at 338.5 %².
Among the 36 assets we track against ALB, SPY ranks #18 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ALB outperformed by 36.3 percentage points (+56.9% for ALB against +20.6% for SPY). The rolling one-year correlation moved between 0.30 and 0.63 over the past three years, a moderate range. One caveat on sizing: ALB is 3.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ALB vs SPY: side by side
| ALB (Albemarle Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +56.9% | +20.6% |
| 5-year return | -39.2% | +82.4% |
| Volatility (ann.) | 54.3% | 14.5% |
| Beta vs S&P 500 | 1.62 | 1.00 |
| Max drawdown (3Y) | -74.1% | -18.8% |
| Market cap | $16.0B | – |
| P/E (trailing) | 502.9 | – |
| Dividend yield | 1.20% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Materials | 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 | ALB | SPY |
|---|---|---|
| 2022 | -6.6% | -18.2% |
| 2023 | -32.8% | +26.2% |
| 2024 | -39.5% | +24.9% |
| 2025 | +67.7% | +17.7% |
| 2026 | -3.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALB and SPY good diversifiers for each other?
Reasonably. At 0.43, ALB and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ALB and SPY?
As of 2026-08-27, the correlation of weekly returns between ALB and SPY is 0.43 over 3 years, 0.30 over 1 year and 0.50 over 5 years.
Is SPY a good diversifier for ALB?
Reasonably. At 0.43, ALB and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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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Hubs: ALB correlations · SPY correlations
