BGSF vs SPY: Correlation
How closely do BGSF, Inc. (BGSF) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.12, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGSF and SPY?
On 3 years of weekly data the BGSF/SPY correlation comes out at 0.12, weak. Little has changed lately, as the 1-year reading of 0.03 lands near the 3-year figure. The 5-year figure is 0.17, and annualized covariance runs at 97.5 %².
Within BGSF's tracked universe of 12 assets, SPY comes in at #7 by 3-year correlation. Their 12-month results are close: +19.8% for BGSF against +20.6% for SPY. Risk is not evenly split, since BGSF carries 3.7 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.
BGSF vs SPY: side by side
| BGSF (BGSF, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +19.8% | +20.6% |
| 5-year return | -36.0% | +82.4% |
| Volatility (ann.) | 54.3% | 14.5% |
| Beta vs S&P 500 | 0.47 | 1.00 |
| Max drawdown (3Y) | -71.9% | -18.8% |
| Market cap | $0.1B | – |
| 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 | BGSF | SPY |
|---|---|---|
| 2022 | +11.7% | -18.2% |
| 2023 | -35.1% | +26.2% |
| 2024 | -43.4% | +24.9% |
| 2025 | +23.0% | +17.7% |
| 2026 | +15.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGSF and SPY good diversifiers for each other?
Yes: at 0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BGSF and SPY?
The BGSF/SPY correlation stands at 0.12 on a 3-year window (1 year: 0.03, 5 years: 0.17), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for BGSF?
Yes: at 0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.12 mean?
A reading of 0.12 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: BGSF correlations · SPY correlations
