BATRK vs SPY: Correlation
Atlanta Braves Holdings, Inc. - Series C (BATRK) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BATRK and SPY?
Across a 3-year window, the weekly returns of BATRK and SPY correlate at 0.38, moderate. The past 12 months show a weaker link (0.22) than the 3-year average (0.38). Stretching to 5 years gives 0.39, with an annualized covariance of 103.9 %².
By 3-year correlation, SPY places #6 of the 12 assets tracked against BATRK. The trailing year gives SPY the advantage: +13.3% versus +20.6%, a 7.3-point spread.
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.
BATRK vs SPY: side by side
| BATRK (Atlanta Braves Holdings, Inc. - Series C) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +13.3% | +20.6% |
| 5-year return | +96.3% | +82.4% |
| Volatility (ann.) | 19.0% | 14.5% |
| Beta vs S&P 500 | 0.50 | 1.00 |
| Max drawdown (3Y) | -18.7% | -18.8% |
| Market cap | $3.3B | – |
| 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 | BATRK | SPY |
|---|---|---|
| 2022 | +14.7% | -18.2% |
| 2023 | +22.8% | +26.2% |
| 2024 | -3.3% | +24.9% |
| 2025 | +3.1% | +17.7% |
| 2026 | +28.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BATRK and SPY good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BATRK and SPY?
The BATRK/SPY correlation stands at 0.38 on a 3-year window (1 year: 0.22, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for BATRK?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 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: BATRK correlations · SPY correlations
