EPAC vs SPY: Correlation
Measured on weekly returns over the past three years, Enerpac Tool Group Corp. (EPAC) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EPAC and SPY?
On 3 years of weekly data the EPAC/SPY correlation comes out at 0.40, moderate. Recent behaviour matches the longer record: 0.33 over 1 year against 0.40 over 3. The 5-year figure is 0.44, and annualized covariance runs at 167.3 %².
Out of 10 assets tracked against EPAC, SPY lands near the bottom at #6. The last year tells two different stories: SPY led by 32.9 percentage points, -12.3% for EPAC against +20.6% for SPY. Note the risk asymmetry: EPAC 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.
EPAC vs SPY: side by side
| EPAC (Enerpac Tool Group Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -12.3% | +20.6% |
| 5-year return | +50.0% | +82.4% |
| Volatility (ann.) | 28.6% | 14.5% |
| Beta vs S&P 500 | 0.80 | 1.00 |
| Max drawdown (3Y) | -36.1% | -18.8% |
| Market cap | $1.9B | – |
| P/E (trailing) | 21.4 | – |
| Dividend yield | 0.11% | 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 | EPAC | SPY |
|---|---|---|
| 2022 | +25.7% | -18.2% |
| 2023 | +22.3% | +26.2% |
| 2024 | +32.3% | +24.9% |
| 2025 | -6.8% | +17.7% |
| 2026 | -1.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EPAC and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EPAC and SPY?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.33 over the last year and 0.44 over 5 years.
Is SPY a good diversifier for EPAC?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: EPAC correlations · SPY correlations
