EMR vs SPY: Correlation
Measured on weekly returns over the past three years, Emerson Electric (EMR) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMR and SPY?
Over the past 3 years, EMR and SPY moved with a correlation of 0.66, which is strong. Little has changed lately, as the 1-year reading of 0.62 lands near the 3-year figure. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 269.7 %².
Among the 47 assets we track against EMR, SPY ranks #18 by 3-year correlation. Neither side won the trailing year by much: +20.0% against +20.6%. Across three years, the rolling one-year figure varied moderately, from 0.37 to 0.81. Note the risk asymmetry: EMR runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EMR vs SPY: side by side
| EMR (Emerson Electric) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +20.0% | +20.6% |
| 5-year return | +65.4% | +82.4% |
| Volatility (ann.) | 28.3% | 14.5% |
| Beta vs S&P 500 | 1.29 | 1.00 |
| Max drawdown (3Y) | -29.6% | -18.8% |
| Market cap | $88.0B | – |
| P/E (trailing) | 34.5 | – |
| Dividend yield | 1.39% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Industrials | 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 | EMR | SPY |
|---|---|---|
| 2022 | +5.7% | -18.2% |
| 2023 | +3.8% | +26.2% |
| 2024 | +29.7% | +24.9% |
| 2025 | +8.9% | +17.7% |
| 2026 | +20.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that SPY holds EMR at a 0.13% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are EMR and SPY good diversifiers for each other?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between EMR and SPY?
The EMR/SPY correlation stands at 0.66 on a 3-year window (1 year: 0.62, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for EMR?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.66 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/emr-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/emr-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EMR correlations · SPY correlations
