BSIN vs SPY: Correlation
Big Sky Industrial Inc. (BSIN) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.06.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSIN and SPY?
Across a 3-year window, the weekly returns of BSIN and SPY correlate at 0.06, near zero, meaning they move largely independently. Recent behaviour matches the longer record: -0.03 over 1 year against 0.06 over 3. Stretching to 5 years gives 0.11, with an annualized covariance of 62.6 %².
By 3-year correlation, SPY places #7 of the 13 assets tracked against BSIN. The trailing year gives BSIN the advantage: +28.0% versus +20.6%, a 7.4-point spread. Risk is not evenly split, since BSIN carries 5.2 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.
BSIN vs SPY: side by side
| BSIN (Big Sky Industrial Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +28.0% | +20.6% |
| 5-year return | -60.2% | +82.4% |
| Volatility (ann.) | 75.7% | 14.5% |
| Beta vs S&P 500 | 0.30 | 1.00 |
| Max drawdown (3Y) | -81.8% | -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 | BSIN | SPY |
|---|---|---|
| 2022 | -28.2% | -18.2% |
| 2023 | -55.3% | +26.2% |
| 2024 | +63.0% | +24.9% |
| 2025 | -43.6% | +17.7% |
| 2026 | +64.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSIN and SPY good diversifiers for each other?
Yes: at 0.06, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BSIN and SPY?
The BSIN/SPY correlation stands at 0.06 on a 3-year window (1 year: -0.03, 5 years: 0.11), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for BSIN?
Yes: at 0.06, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.06 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: BSIN correlations · SPY correlations
