ARBB vs SPY: Correlation
How closely do ARB IOT Group Limited (ARBB) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.03, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARBB and SPY?
Across a 3-year window, the weekly returns of ARBB and SPY correlate at 0.03, near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.03 over 1 year against 0.03 over 3. Stretching to 5 years gives n/a, with an annualized covariance of 67.0 %².
Among the 12 assets we track against ARBB, SPY sits near the bottom by co-movement, at rank #8. The last year tells two different stories: SPY led by 19.8 percentage points, +0.8% for ARBB against +20.6% for SPY. Risk is not evenly split, since ARBB carries 11.6 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.
ARBB vs SPY: side by side
| ARBB (ARB IOT Group Limited) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +0.8% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 167.6% | 14.5% |
| Beta vs S&P 500 | 0.32 | 1.00 |
| Max drawdown (3Y) | -90.3% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | ARBB | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | -80.7% | +24.9% |
| 2025 | -21.7% | +17.7% |
| 2026 | -26.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARBB and SPY good diversifiers for each other?
Yes: at 0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ARBB and SPY?
Using weekly returns as of 2026-08-27: 0.03 over 3 years, with 0.03 over the last year and n/a over 5 years.
Is SPY a good diversifier for ARBB?
Yes: at 0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.03 mean?
A reading of 0.03 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: ARBB correlations · SPY correlations
