BR vs SPY: Correlation
How closely do Broadridge Financial Solutions (BR) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BR and SPY?
Over the past 3 years, BR and SPY moved with a correlation of 0.41, which is moderate. The past 12 months show a weaker link (0.26) than the 3-year average (0.41). Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 135.2 %².
Among the 45 assets we track against BR, SPY ranks #31 by 3-year correlation. The last year tells two different stories: SPY led by 48.2 percentage points, -27.6% for BR against +20.6% for SPY. The rolling one-year correlation moved between 0.31 and 0.72 over the past three years, a moderate range. Note the risk asymmetry: BR runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BR vs SPY: side by side
| BR (Broadridge Financial Solutions) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -27.6% | +20.6% |
| 5-year return | +16.0% | +82.4% |
| Volatility (ann.) | 22.6% | 14.5% |
| Beta vs S&P 500 | 0.65 | 1.00 |
| Max drawdown (3Y) | -48.2% | -18.8% |
| Market cap | $20.9B | – |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 2.15% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Industrials | 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 | BR | SPY |
|---|---|---|
| 2022 | -25.3% | -18.2% |
| 2023 | +56.2% | +26.2% |
| 2024 | +11.7% | +24.9% |
| 2025 | +0.3% | +17.7% |
| 2026 | -17.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BR and SPY good diversifiers for each other?
Reasonably. At 0.41, BR and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BR and SPY?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.26 over the last year and 0.56 over 5 years.
Is SPY a good diversifier for BR?
Reasonably. At 0.41, BR and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/br-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/br-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BR correlations · SPY correlations
