EZRA vs SPY: Correlation
Measured on weekly returns over the past three years, Reliance Global Group, Inc. (EZRA) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.13, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EZRA and SPY?
Over the past 3 years, EZRA and SPY moved with a correlation of 0.13, which is weak. Recent behaviour matches the longer record: 0.21 over 1 year against 0.13 over 3. Over 5 years the correlation is 0.15, and the annualized covariance of weekly returns is 274.8 %².
Among the 12 assets we track against EZRA, SPY sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 112.9 percentage points (-92.3% for EZRA against +20.6% for SPY). Note the risk asymmetry: EZRA runs 10.3 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.
EZRA vs SPY: side by side
| EZRA (Reliance Global Group, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -92.3% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 149.2% | 14.5% |
| Beta vs S&P 500 | 1.32 | 1.00 |
| Max drawdown (3Y) | -99.9% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 0.9 | – |
| 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 | EZRA | SPY |
|---|---|---|
| 2022 | -91.2% | -18.2% |
| 2023 | -93.7% | +26.2% |
| 2024 | -71.7% | +24.9% |
| 2025 | -79.6% | +17.7% |
| 2026 | -86.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EZRA and SPY good diversifiers for each other?
Yes. With a correlation of 0.13, EZRA and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EZRA and SPY?
Using weekly returns as of 2026-08-27: 0.13 over 3 years, with 0.21 over the last year and 0.15 over 5 years.
Is SPY a good diversifier for EZRA?
Yes. With a correlation of 0.13, EZRA and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.13 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: EZRA correlations · SPY correlations
