EFSC vs SPY: Correlation
How closely do Enterprise Financial Services Corporation (EFSC) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFSC and SPY?
On 3 years of weekly data the EFSC/SPY correlation comes out at 0.36, moderate. The link has loosened recently: the 1-year correlation (0.16) runs below the 3-year figure (0.36). The 5-year figure is 0.41, and annualized covariance runs at 137.9 %².
By 3-year correlation, SPY places #18 of the 23 assets tracked against EFSC. The last year tells two different stories: SPY led by 15.3 percentage points, +5.3% for EFSC against +20.6% for SPY. One caveat on sizing: EFSC is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
EFSC vs SPY: side by side
| EFSC (Enterprise Financial Services Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +5.3% | +20.6% |
| 5-year return | +59.0% | +82.4% |
| Volatility (ann.) | 26.9% | 14.5% |
| Beta vs S&P 500 | 0.66 | 1.00 |
| Max drawdown (3Y) | -25.0% | -18.8% |
| Market cap | $2.3B | – |
| P/E (trailing) | 12.6 | – |
| Dividend yield | 2.05% | 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 | EFSC | SPY |
|---|---|---|
| 2022 | +6.0% | -18.2% |
| 2023 | -6.6% | +26.2% |
| 2024 | +29.3% | +24.9% |
| 2025 | -2.1% | +17.7% |
| 2026 | +18.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFSC and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EFSC and SPY?
The EFSC/SPY correlation stands at 0.36 on a 3-year window (1 year: 0.16, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for EFSC?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 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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Related comparisons
Hubs: EFSC correlations · SPY correlations
