ETD vs SPY: Correlation
How closely do Ethan Allen Interiors Inc. (ETD) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETD and SPY?
Over the past 3 years, ETD and SPY moved with a correlation of 0.34, which is moderate. The past 12 months show a weaker link (0.06) than the 3-year average (0.34). Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 138.6 %².
Out of 12 assets tracked against ETD, SPY lands near the bottom at #8. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 35.9 percentage points (-15.3% for ETD against +20.6% for SPY). One caveat on sizing: ETD is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ETD vs SPY: side by side
| ETD (Ethan Allen Interiors Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -15.3% | +20.6% |
| 5-year return | +35.4% | +82.4% |
| Volatility (ann.) | 28.2% | 14.5% |
| Beta vs S&P 500 | 0.66 | 1.00 |
| Max drawdown (3Y) | -36.8% | -18.8% |
| Market cap | $0.6B | – |
| P/E (trailing) | 15.1 | – |
| Dividend yield | 6.61% | 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 | ETD | SPY |
|---|---|---|
| 2022 | +7.5% | -18.2% |
| 2023 | +28.7% | +26.2% |
| 2024 | -6.0% | +24.9% |
| 2025 | -13.2% | +17.7% |
| 2026 | +9.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETD and SPY good diversifiers for each other?
Reasonably. At 0.34, ETD and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ETD and SPY?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.06 over the last year and 0.43 over 5 years.
Is SPY a good diversifier for ETD?
Reasonably. At 0.34, ETD and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 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: ETD correlations · SPY correlations
