BRX vs SPY: Correlation
Measured on weekly returns over the past three years, Brixmor Property Group Inc. (BRX) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRX and SPY?
Across a 3-year window, the weekly returns of BRX and SPY correlate at 0.39, moderate. The past 12 months show a weaker link (-0.01) than the 3-year average (0.39). Stretching to 5 years gives 0.56, with an annualized covariance of 117.5 %².
Within BRX's tracked universe of 25 assets, SPY comes in at #19 by 3-year correlation. On 12-month performance SPY holds a 12.2-point edge, +8.4% against +20.6%.
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.
BRX vs SPY: side by side
| BRX (Brixmor Property Group Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +8.4% | +20.6% |
| 5-year return | +55.9% | +82.4% |
| Volatility (ann.) | 20.7% | 14.5% |
| Beta vs S&P 500 | 0.56 | 1.00 |
| Max drawdown (3Y) | -22.4% | -18.8% |
| Market cap | $8.9B | – |
| P/E (trailing) | 20.9 | – |
| Dividend yield | 4.12% | 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 | BRX | SPY |
|---|---|---|
| 2022 | -6.8% | -18.2% |
| 2023 | +7.7% | +26.2% |
| 2024 | +25.2% | +24.9% |
| 2025 | -1.7% | +17.7% |
| 2026 | +14.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRX and SPY good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BRX and SPY?
The BRX/SPY correlation stands at 0.39 on a 3-year window (1 year: -0.01, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for BRX?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
A reading of 0.39 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/brx-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/brx-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BRX correlations · SPY correlations
