FBIN vs SPY: Correlation
Fortune Brands Innovations, Inc. (FBIN) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBIN and SPY?
Over the past 3 years, FBIN and SPY moved with a correlation of 0.48, which is moderate. The link has loosened recently: the 1-year correlation (0.37) runs below the 3-year figure (0.48). Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 269.8 %².
Within FBIN's tracked universe of 20 assets, SPY comes in at #14 by 3-year correlation. The last year tells two different stories: SPY led by 42.7 percentage points, -22.1% for FBIN against +20.6% for SPY. Note the risk asymmetry: FBIN runs 2.7 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.
FBIN vs SPY: side by side
| FBIN (Fortune Brands Innovations, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -22.1% | +20.6% |
| 5-year return | -42.9% | +82.4% |
| Volatility (ann.) | 38.8% | 14.5% |
| Beta vs S&P 500 | 1.29 | 1.00 |
| Max drawdown (3Y) | -61.9% | -18.8% |
| Market cap | $5.4B | – |
| P/E (trailing) | 37.4 | – |
| Dividend yield | 2.20% | 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 | FBIN | SPY |
|---|---|---|
| 2022 | -36.5% | -18.2% |
| 2023 | +35.2% | +26.2% |
| 2024 | -9.1% | +24.9% |
| 2025 | -25.4% | +17.7% |
| 2026 | -7.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBIN and SPY good diversifiers for each other?
Reasonably. At 0.48, FBIN and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FBIN and SPY?
As of 2026-08-27, the correlation of weekly returns between FBIN and SPY is 0.48 over 3 years, 0.37 over 1 year and 0.56 over 5 years.
Is SPY a good diversifier for FBIN?
Reasonably. At 0.48, FBIN and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FBIN correlations · SPY correlations
