BCE vs SPY: Correlation
How closely do BCE, Inc. (BCE) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of -0.04, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCE and SPY?
Over the past 3 years, BCE and SPY moved with a correlation of -0.04, which is near zero, meaning they move largely independently. Recent behaviour matches the longer record: -0.05 over 1 year against -0.04 over 3. Over 5 years the correlation is 0.21, and the annualized covariance of weekly returns is -13.3 %².
By 3-year correlation, SPY places #9 of the 27 assets tracked against BCE. The last year tells two different stories: SPY led by 22.0 percentage points, -1.4% for BCE against +20.6% for SPY.
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.
BCE vs SPY: side by side
| BCE (BCE, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -1.4% | +20.6% |
| 5-year return | -36.8% | +82.4% |
| Volatility (ann.) | 21.5% | 14.5% |
| Beta vs S&P 500 | -0.06 | 1.00 |
| Max drawdown (3Y) | -43.5% | -18.8% |
| Market cap | $21.8B | – |
| P/E (trailing) | 4.8 | – |
| Dividend yield | 7.45% | 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 | BCE | SPY |
|---|---|---|
| 2022 | -10.6% | -18.2% |
| 2023 | -4.2% | +26.2% |
| 2024 | -35.5% | +24.9% |
| 2025 | +10.2% | +17.7% |
| 2026 | +0.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCE and SPY good diversifiers for each other?
Yes. With a correlation of -0.04, BCE and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BCE and SPY?
Using weekly returns as of 2026-08-27: -0.04 over 3 years, with -0.05 over the last year and 0.21 over 5 years.
Is SPY a good diversifier for BCE?
Yes. With a correlation of -0.04, BCE and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.04 mean?
A reading of -0.04 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BCE correlations · SPY correlations
