BBCP vs SPY: Correlation
Measured on weekly returns over the past three years, Concrete Pumping Holdings, Inc. (BBCP) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.22, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBCP and SPY?
On 3 years of weekly data the BBCP/SPY correlation comes out at 0.22, weak. The past 12 months show a weaker link (-0.05) than the 3-year average (0.22). The 5-year figure is 0.30, and annualized covariance runs at 149.2 %².
Out of 10 assets tracked against BBCP, SPY lands near the bottom at #6. On 12-month performance BBCP holds a 11.7-point edge, +32.3% against +20.6%. Risk is not evenly split, since BBCP 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.
BBCP vs SPY: side by side
| BBCP (Concrete Pumping Holdings, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +32.3% | +20.6% |
| 5-year return | +27.3% | +82.4% |
| Volatility (ann.) | 45.9% | 14.5% |
| Beta vs S&P 500 | 0.71 | 1.00 |
| Max drawdown (3Y) | -43.2% | -18.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 67.4 | – |
| 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 | BBCP | SPY |
|---|---|---|
| 2022 | -28.7% | -18.2% |
| 2023 | +40.2% | +26.2% |
| 2024 | -18.8% | +24.9% |
| 2025 | +13.7% | +17.7% |
| 2026 | +40.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBCP and SPY good diversifiers for each other?
Reasonably. At 0.22, BBCP and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BBCP and SPY?
The BBCP/SPY correlation stands at 0.22 on a 3-year window (1 year: -0.05, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for BBCP?
Reasonably. At 0.22, BBCP and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.22 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: BBCP correlations · SPY correlations
