AMTB vs SPY: Correlation
Amerant Bancorp Inc. (AMTB) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMTB and SPY?
Across a 3-year window, the weekly returns of AMTB and SPY correlate at 0.41, moderate. The link has loosened recently: the 1-year correlation (-0.00) runs below the 3-year figure (0.41). Stretching to 5 years gives 0.38, with an annualized covariance of 206.8 %².
Among the 11 assets we track against AMTB, SPY sits near the bottom by co-movement, at rank #7. Their recent paths diverged sharply: over the last 12 months AMTB outperformed by 16.1 percentage points (+36.7% for AMTB against +20.6% for SPY). Risk is not evenly split, since AMTB carries 2.4 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.
AMTB vs SPY: side by side
| AMTB (Amerant Bancorp Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +36.7% | +20.6% |
| 5-year return | +17.3% | +82.4% |
| Volatility (ann.) | 34.6% | 14.5% |
| Beta vs S&P 500 | 0.99 | 1.00 |
| Max drawdown (3Y) | -36.9% | -18.8% |
| Market cap | $1.1B | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 1.26% | 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 | AMTB | SPY |
|---|---|---|
| 2022 | -21.4% | -18.2% |
| 2023 | -6.8% | +26.2% |
| 2024 | -7.3% | +24.9% |
| 2025 | -11.3% | +17.7% |
| 2026 | +49.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMTB and SPY good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AMTB and SPY?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with -0.00 over the last year and 0.38 over 5 years.
Is SPY a good diversifier for AMTB?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 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: AMTB correlations · SPY correlations
