EONR vs SPY: Correlation
EON Resources Inc. (EONR) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is -0.08.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EONR and SPY?
On 3 years of weekly data the EONR/SPY correlation comes out at -0.08, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.21) runs below the 3-year figure (-0.08). The 5-year figure is -0.06, and annualized covariance runs at -168.6 %².
Among the 10 assets we track against EONR, SPY sits near the bottom by co-movement, at rank #7. The last year tells two different stories: EONR led by 29.5 percentage points, +50.1% for EONR against +20.6% for SPY. Note the risk asymmetry: EONR runs 9.6 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.
EONR vs SPY: side by side
| EONR (EON Resources Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +50.1% | +20.6% |
| 5-year return | -94.8% | +82.4% |
| Volatility (ann.) | 138.7% | 14.5% |
| Beta vs S&P 500 | -0.81 | 1.00 |
| Max drawdown (3Y) | -97.7% | -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 | EONR | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | -80.2% | +26.2% |
| 2024 | -59.5% | +24.9% |
| 2025 | -53.2% | +17.7% |
| 2026 | +36.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EONR and SPY good diversifiers for each other?
Yes. With a correlation of -0.08, EONR and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EONR and SPY?
As of 2026-08-27, the correlation of weekly returns between EONR and SPY is -0.08 over 3 years, -0.21 over 1 year and -0.06 over 5 years.
Is SPY a good diversifier for EONR?
Yes. With a correlation of -0.08, EONR and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.08 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: EONR correlations · SPY correlations
