BC vs SPY: Correlation
Brunswick Corporation (BC) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BC and SPY?
Over the past 3 years, BC and SPY moved with a correlation of 0.49, which is moderate. The past 12 months show a weaker link (0.35) than the 3-year average (0.49). Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 254.9 %².
By 3-year correlation, SPY places #41 of the 58 assets tracked against BC. Twelve-month performance is nearly a tie, at +21.7% for BC and +20.6% for SPY. One caveat on sizing: BC is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BC vs SPY: side by side
| BC (Brunswick Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +21.7% | +20.6% |
| 5-year return | -15.3% | +82.4% |
| Volatility (ann.) | 35.8% | 14.5% |
| Beta vs S&P 500 | 1.22 | 1.00 |
| Max drawdown (3Y) | -56.5% | -18.8% |
| Market cap | $5.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.18% | 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 | BC | SPY |
|---|---|---|
| 2022 | -27.1% | -18.2% |
| 2023 | +36.9% | +26.2% |
| 2024 | -31.8% | +24.9% |
| 2025 | +18.1% | +17.7% |
| 2026 | +6.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BC and SPY good diversifiers for each other?
Reasonably. At 0.49, BC and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BC and SPY?
The BC/SPY correlation stands at 0.49 on a 3-year window (1 year: 0.35, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for BC?
Reasonably. At 0.49, BC and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: BC correlations · SPY correlations
