AREC vs SPY: Correlation
American Resources Corporation (AREC) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.13.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AREC and SPY?
On 3 years of weekly data the AREC/SPY correlation comes out at 0.13, weak. Lately the two have moved closer together, with the 1-year correlation at 0.30 versus 0.13 over 3 years. The 5-year figure is 0.18, and annualized covariance runs at 264.7 %².
SPY is close to the least connected end of AREC's tracked universe, ranking #12 of 16. Their 12-month results are close: +18.3% for AREC against +20.6% for SPY. Risk is not evenly split, since AREC carries 9.7 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.
AREC vs SPY: side by side
| AREC (American Resources Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +18.3% | +20.6% |
| 5-year return | +18.9% | +82.4% |
| Volatility (ann.) | 141.0% | 14.5% |
| Beta vs S&P 500 | 1.27 | 1.00 |
| Max drawdown (3Y) | -78.1% | -18.8% |
| Market cap | $0.3B | – |
| 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 | AREC | SPY |
|---|---|---|
| 2022 | -26.7% | -18.2% |
| 2023 | +12.9% | +26.2% |
| 2024 | -32.2% | +24.9% |
| 2025 | +145.5% | +17.7% |
| 2026 | +4.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AREC and SPY good diversifiers for each other?
Yes: at 0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AREC and SPY?
As of 2026-08-27, the correlation of weekly returns between AREC and SPY is 0.13 over 3 years, 0.30 over 1 year and 0.18 over 5 years.
Is SPY a good diversifier for AREC?
Yes: at 0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.13 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: AREC correlations · SPY correlations
