FLR vs SPY: Correlation
Fluor Corporation (FLR) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLR and SPY?
On 3 years of weekly data the FLR/SPY correlation comes out at 0.41, moderate. The link has loosened recently: the 1-year correlation (0.25) runs below the 3-year figure (0.41). The 5-year figure is 0.41, and annualized covariance runs at 245.3 %².
Among the 10 assets we track against FLR, SPY sits near the bottom by co-movement, at rank #6. On 12-month performance FLR holds a 11.0-point edge, +31.6% against +20.6%. Risk is not evenly split, since FLR carries 2.8 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.
FLR vs SPY: side by side
| FLR (Fluor Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +31.6% | +20.6% |
| 5-year return | +231.5% | +82.4% |
| Volatility (ann.) | 41.3% | 14.5% |
| Beta vs S&P 500 | 1.17 | 1.00 |
| Max drawdown (3Y) | -47.6% | -18.8% |
| Market cap | $7.2B | – |
| P/E (trailing) | – | – |
| 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 | FLR | SPY |
|---|---|---|
| 2022 | +39.9% | -18.2% |
| 2023 | +13.0% | +26.2% |
| 2024 | +25.9% | +24.9% |
| 2025 | -19.6% | +17.7% |
| 2026 | +36.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLR and SPY good diversifiers for each other?
Reasonably. At 0.41, FLR and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FLR and SPY?
As of 2026-08-27, the correlation of weekly returns between FLR and SPY is 0.41 over 3 years, 0.25 over 1 year and 0.41 over 5 years.
Is SPY a good diversifier for FLR?
Reasonably. At 0.41, FLR and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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: FLR correlations · SPY correlations
