BRLT vs SPY: Correlation
Brilliant Earth Group, Inc. (BRLT) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRLT and SPY?
Across a 3-year window, the weekly returns of BRLT and SPY correlate at 0.28, weak. Recent behaviour matches the longer record: 0.34 over 1 year against 0.28 over 3. Stretching to 5 years gives 0.37, with an annualized covariance of 269.1 %².
SPY is close to the least connected end of BRLT's tracked universe, ranking #8 of 12. Correlation aside, the last 12 months split them widely, with SPY ahead by 74.3 points (-53.7% versus +20.6%). Note the risk asymmetry: BRLT runs 4.6 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.
BRLT vs SPY: side by side
| BRLT (Brilliant Earth Group, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -53.7% | +20.6% |
| 5-year return | -91.4% | +82.4% |
| Volatility (ann.) | 66.7% | 14.5% |
| Beta vs S&P 500 | 1.29 | 1.00 |
| Max drawdown (3Y) | -68.9% | -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 | BRLT | SPY |
|---|---|---|
| 2022 | -76.1% | -18.2% |
| 2023 | -13.7% | +26.2% |
| 2024 | -43.5% | +24.9% |
| 2025 | -6.3% | +17.7% |
| 2026 | -25.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRLT and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BRLT and SPY?
The BRLT/SPY correlation stands at 0.28 on a 3-year window (1 year: 0.34, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for BRLT?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 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.
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Related comparisons
Hubs: BRLT correlations · SPY correlations
