BRN vs SPY: Correlation
Measured on weekly returns over the past three years, Barnwell Industries, Inc. (BRN) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of -0.06, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRN and SPY?
On 3 years of weekly data the BRN/SPY correlation comes out at -0.06, near zero, meaning they move largely independently. Recent behaviour matches the longer record: -0.02 over 1 year against -0.06 over 3. The 5-year figure is 0.01, and annualized covariance runs at -45.1 %².
Among the 35 assets we track against BRN, SPY ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 39.7 percentage points (-19.1% for BRN against +20.6% for SPY). Risk is not evenly split, since BRN 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.
BRN vs SPY: side by side
| BRN (Barnwell Industries, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -19.1% | +20.6% |
| 5-year return | -58.9% | +82.4% |
| Volatility (ann.) | 53.1% | 14.5% |
| Beta vs S&P 500 | -0.22 | 1.00 |
| Max drawdown (3Y) | -68.5% | -18.8% |
| Market cap | – | – |
| 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 | BRN | SPY |
|---|---|---|
| 2022 | +2.8% | -18.2% |
| 2023 | -16.5% | +26.2% |
| 2024 | -37.9% | +24.9% |
| 2025 | -26.5% | +17.7% |
| 2026 | -14.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRN and SPY good diversifiers for each other?
By historical standards, yes. A correlation of -0.06 means the two rarely move for the same reasons.
FAQ
What is the correlation between BRN and SPY?
The BRN/SPY correlation stands at -0.06 on a 3-year window (1 year: -0.02, 5 years: 0.01), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for BRN?
By historical standards, yes. A correlation of -0.06 means the two rarely move for the same reasons.
What does a correlation of -0.06 mean?
A reading of -0.06 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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Hubs: BRN correlations · SPY correlations
