ARCB vs SPY: Correlation
ArcBest Corporation (ARCB) 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 ARCB and SPY?
Across a 3-year window, the weekly returns of ARCB and SPY correlate at 0.41, moderate. The past 12 months show a weaker link (0.13) than the 3-year average (0.41). Stretching to 5 years gives 0.45, with an annualized covariance of 276.9 %².
By 3-year correlation, SPY places #13 of the 18 assets tracked against ARCB. Their recent paths diverged sharply: over the last 12 months ARCB outperformed by 69.6 percentage points (+90.2% for ARCB against +20.6% for SPY). Risk is not evenly split, since ARCB carries 3.2 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.
ARCB vs SPY: side by side
| ARCB (ArcBest Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +90.2% | +20.6% |
| 5-year return | +107.2% | +82.4% |
| Volatility (ann.) | 46.8% | 14.5% |
| Beta vs S&P 500 | 1.33 | 1.00 |
| Max drawdown (3Y) | -62.4% | -18.8% |
| Market cap | $3.1B | – |
| P/E (trailing) | 198.7 | – |
| Dividend yield | 0.35% | 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 | ARCB | SPY |
|---|---|---|
| 2022 | -41.2% | -18.2% |
| 2023 | +72.4% | +26.2% |
| 2024 | -22.1% | +24.9% |
| 2025 | -20.0% | +17.7% |
| 2026 | +88.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARCB and SPY good diversifiers for each other?
Reasonably. At 0.41, ARCB and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ARCB and SPY?
The ARCB/SPY correlation stands at 0.41 on a 3-year window (1 year: 0.13, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for ARCB?
Reasonably. At 0.41, ARCB and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/arcb-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/arcb-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ARCB correlations · SPY correlations
