BTBD vs SPY: Correlation
How closely do BT Brands, Inc. (BTBD) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.07, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTBD and SPY?
Over the past 3 years, BTBD and SPY moved with a correlation of 0.07, which is near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.08) sits close to the 3-year figure. Over 5 years the correlation is 0.02, and the annualized covariance of weekly returns is 80.6 %².
Among the 12 assets we track against BTBD, SPY ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 43.1 percentage points (-22.5% for BTBD against +20.6% for SPY). Risk is not evenly split, since BTBD carries 5.7 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.
BTBD vs SPY: side by side
| BTBD (BT Brands, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -22.5% | +20.6% |
| 5-year return | -67.8% | +82.4% |
| Volatility (ann.) | 82.0% | 14.5% |
| Beta vs S&P 500 | 0.39 | 1.00 |
| Max drawdown (3Y) | -65.7% | -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 | BTBD | SPY |
|---|---|---|
| 2022 | -38.1% | -18.2% |
| 2023 | +36.8% | +26.2% |
| 2024 | -42.4% | +24.9% |
| 2025 | -3.5% | +17.7% |
| 2026 | +2.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTBD and SPY good diversifiers for each other?
Yes. With a correlation of 0.07, BTBD and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BTBD and SPY?
As of 2026-08-27, the correlation of weekly returns between BTBD and SPY is 0.07 over 3 years, 0.08 over 1 year and 0.02 over 5 years.
Is SPY a good diversifier for BTBD?
Yes. With a correlation of 0.07, BTBD and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.07 mean?
On the −1 to +1 scale, 0.07 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: BTBD correlations · SPY correlations
