EIC vs SPY: Correlation
Eagle Point Income Company (EIC) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EIC and SPY?
On 3 years of weekly data the EIC/SPY correlation comes out at 0.29, weak. Lately the two have moved closer together, with the 1-year correlation at 0.56 versus 0.29 over 3 years. The 5-year figure is 0.20, and annualized covariance runs at 74.6 %².
Within EIC's tracked universe of 12 assets, SPY comes in at #7 by 3-year correlation. The last year tells two different stories: SPY led by 40.2 percentage points, -19.6% for EIC against +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.
EIC vs SPY: side by side
| EIC (Eagle Point Income Company) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -19.6% | +20.6% |
| 5-year return | +6.9% | +82.4% |
| Volatility (ann.) | 17.5% | 14.5% |
| Beta vs S&P 500 | 0.36 | 1.00 |
| Max drawdown (3Y) | -34.1% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 14.30% | 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 | EIC | SPY |
|---|---|---|
| 2022 | -10.5% | -18.2% |
| 2023 | +20.9% | +26.2% |
| 2024 | +24.0% | +24.9% |
| 2025 | -15.3% | +17.7% |
| 2026 | -7.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EIC and SPY good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EIC and SPY?
The EIC/SPY correlation stands at 0.29 on a 3-year window (1 year: 0.56, 5 years: 0.20), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for EIC?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 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: EIC correlations · SPY correlations
