BSET vs SPY: Correlation
Bassett Furniture Industries, Incorporated (BSET) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSET and SPY?
On 3 years of weekly data the BSET/SPY correlation comes out at 0.19, weak. The relationship has been stable: the 1-year correlation (0.09) sits close to the 3-year figure. The 5-year figure is 0.27, and annualized covariance runs at 95.6 %².
Out of 10 assets tracked against BSET, SPY lands near the bottom at #6. Their 12-month results are close: +18.7% for BSET against +20.6% for SPY. Note the risk asymmetry: BSET runs 2.4 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.
BSET vs SPY: side by side
| BSET (Bassett Furniture Industries, Incorporated) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +18.7% | +20.6% |
| 5-year return | +17.6% | +82.4% |
| Volatility (ann.) | 34.7% | 14.5% |
| Beta vs S&P 500 | 0.46 | 1.00 |
| Max drawdown (3Y) | -28.8% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 29.9 | – |
| Dividend yield | 4.21% | 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 | BSET | SPY |
|---|---|---|
| 2022 | +15.6% | -18.2% |
| 2023 | -0.4% | +26.2% |
| 2024 | -12.1% | +24.9% |
| 2025 | +27.5% | +17.7% |
| 2026 | +16.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSET and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between BSET and SPY?
Using weekly returns as of 2026-08-27: 0.19 over 3 years, with 0.09 over the last year and 0.27 over 5 years.
Is SPY a good diversifier for BSET?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
What does a correlation of 0.19 mean?
On the −1 to +1 scale, 0.19 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: BSET correlations · SPY correlations
