BRC vs SPY: Correlation
How closely do Brady Corporation (BRC) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.24, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRC and SPY?
Across a 3-year window, the weekly returns of BRC and SPY correlate at 0.24, weak. The link has loosened recently: the 1-year correlation (0.09) runs below the 3-year figure (0.24). Stretching to 5 years gives 0.41, with an annualized covariance of 90.8 %².
By 3-year correlation, SPY places #9 of the 14 assets tracked against BRC. Their 12-month results are close: +22.1% for BRC against +20.6% for SPY. One caveat on sizing: BRC is 1.8 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.
BRC vs SPY: side by side
| BRC (Brady Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +22.1% | +20.6% |
| 5-year return | +91.6% | +82.4% |
| Volatility (ann.) | 26.5% | 14.5% |
| Beta vs S&P 500 | 0.43 | 1.00 |
| Max drawdown (3Y) | -26.1% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 21.4 | – |
| Dividend yield | 1.04% | 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 | BRC | SPY |
|---|---|---|
| 2022 | -10.9% | -18.2% |
| 2023 | +26.9% | +26.2% |
| 2024 | +27.7% | +24.9% |
| 2025 | +7.6% | +17.7% |
| 2026 | +20.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRC and SPY good diversifiers for each other?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BRC and SPY?
The BRC/SPY correlation stands at 0.24 on a 3-year window (1 year: 0.09, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for BRC?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.24 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/brc-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/brc-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BRC correlations · SPY correlations
