EVR vs SPY: Correlation
How closely do Evercore Inc. (EVR) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVR and SPY?
Across a 3-year window, the weekly returns of EVR and SPY correlate at 0.66, strong. The past 12 months show a weaker link (0.50) than the 3-year average (0.66). Stretching to 5 years gives 0.67, with an annualized covariance of 342.4 %².
Within EVR's tracked universe of 22 assets, SPY comes in at #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 29.6 points (-9.0% versus +20.6%). Risk is not evenly split, since EVR carries 2.5 times the volatility of the other side.
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.
EVR vs SPY: side by side
| EVR (Evercore Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -9.0% | +20.6% |
| 5-year return | +125.5% | +82.4% |
| Volatility (ann.) | 35.8% | 14.5% |
| Beta vs S&P 500 | 1.64 | 1.00 |
| Max drawdown (3Y) | -47.9% | -18.8% |
| Market cap | $11.2B | – |
| P/E (trailing) | 16.4 | – |
| Dividend yield | 1.19% | 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 | EVR | SPY |
|---|---|---|
| 2022 | -17.6% | -18.2% |
| 2023 | +60.6% | +26.2% |
| 2024 | +64.3% | +24.9% |
| 2025 | +24.3% | +17.7% |
| 2026 | -13.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVR and SPY good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EVR and SPY?
The EVR/SPY correlation stands at 0.66 on a 3-year window (1 year: 0.50, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for EVR?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
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.
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Related comparisons
Hubs: EVR correlations · SPY correlations
