EFSI vs SPY: Correlation
Eagle Financial Services Inc (EFSI) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFSI and SPY?
On 3 years of weekly data the EFSI/SPY correlation comes out at 0.21, weak. Little has changed lately, as the 1-year reading of 0.30 lands near the 3-year figure. The 5-year figure is 0.12, and annualized covariance runs at 62.4 %².
Out of 11 assets tracked against EFSI, SPY lands near the bottom at #7. Twelve-month performance is nearly a tie, at +17.6% for EFSI and +20.6% for SPY.
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.
EFSI vs SPY: side by side
| EFSI (Eagle Financial Services Inc) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +17.6% | +20.6% |
| 5-year return | +46.3% | +82.4% |
| Volatility (ann.) | 20.3% | 14.5% |
| Beta vs S&P 500 | 0.30 | 1.00 |
| Max drawdown (3Y) | -21.2% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 11.8 | – |
| Dividend yield | 2.97% | 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 | EFSI | SPY |
|---|---|---|
| 2022 | +8.0% | -18.2% |
| 2023 | -13.4% | +26.2% |
| 2024 | +26.2% | +24.9% |
| 2025 | +13.4% | +17.7% |
| 2026 | +7.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFSI and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EFSI and SPY?
The EFSI/SPY correlation stands at 0.21 on a 3-year window (1 year: 0.30, 5 years: 0.12), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for EFSI?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.21 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: EFSI correlations · SPY correlations
