FND vs SPY: Correlation
Measured on weekly returns over the past three years, Floor & Decor Holdings, Inc. (FND) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FND and SPY?
Over the past 3 years, FND and SPY moved with a correlation of 0.47, which is moderate. The past 12 months show a weaker link (0.36) than the 3-year average (0.47). Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 275.1 %².
Within FND's tracked universe of 23 assets, SPY comes in at #17 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 55.9 points (-35.3% versus +20.6%). Risk is not evenly split, since FND 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.
FND vs SPY: side by side
| FND (Floor & Decor Holdings, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -35.3% | +20.6% |
| 5-year return | -56.3% | +82.4% |
| Volatility (ann.) | 40.8% | 14.5% |
| Beta vs S&P 500 | 1.32 | 1.00 |
| Max drawdown (3Y) | -67.5% | -18.8% |
| Market cap | $5.7B | – |
| P/E (trailing) | 25.4 | – |
| 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 | FND | SPY |
|---|---|---|
| 2022 | -46.4% | -18.2% |
| 2023 | +60.2% | +26.2% |
| 2024 | -10.6% | +24.9% |
| 2025 | -38.9% | +17.7% |
| 2026 | -12.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FND and SPY good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FND and SPY?
As of 2026-08-27, the correlation of weekly returns between FND and SPY is 0.47 over 3 years, 0.36 over 1 year and 0.57 over 5 years.
Is SPY a good diversifier for FND?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
A reading of 0.47 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: FND correlations · SPY correlations
