BCX vs SPY: Correlation
BlackRock Resources (BCX) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCX and SPY?
Over the past 3 years, BCX and SPY moved with a correlation of 0.41, which is moderate. The link has loosened recently: the 1-year correlation (0.26) runs below the 3-year figure (0.41). Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 117.4 %².
By 3-year correlation, SPY places #11 of the 17 assets tracked against BCX. The last year tells two different stories: BCX led by 20.9 percentage points, +41.5% for BCX 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.
BCX vs SPY: side by side
| BCX (BlackRock Resources) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +41.5% | +20.6% |
| 5-year return | +98.3% | +82.4% |
| Volatility (ann.) | 20.0% | 14.5% |
| Beta vs S&P 500 | 0.56 | 1.00 |
| Max drawdown (3Y) | -18.8% | -18.8% |
| Market cap | $1.0B | – |
| P/E (trailing) | 4.7 | – |
| 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 | BCX | SPY |
|---|---|---|
| 2022 | +12.8% | -18.2% |
| 2023 | -4.8% | +26.2% |
| 2024 | +3.2% | +24.9% |
| 2025 | +40.4% | +17.7% |
| 2026 | +24.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCX and SPY good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BCX and SPY?
As of 2026-08-27, the correlation of weekly returns between BCX and SPY is 0.41 over 3 years, 0.26 over 1 year and 0.42 over 5 years.
Is SPY a good diversifier for BCX?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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: BCX correlations · SPY correlations
