GLNG vs SPY: Correlation
How closely do Golar LNG Limited (GLNG) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLNG and SPY?
Across a 3-year window, the weekly returns of GLNG and SPY correlate at 0.34, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.15 versus 0.34 over 3 years. Stretching to 5 years gives 0.37, with an annualized covariance of 183.9 %².
Within GLNG's tracked universe of 12 assets, SPY comes in at #7 by 3-year correlation. Neither side won the trailing year by much: +17.7% against +20.6%. Risk is not evenly split, since GLNG carries 2.6 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.
GLNG vs SPY: side by side
| GLNG (Golar LNG Limited) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +17.7% | +20.6% |
| 5-year return | +415.5% | +82.4% |
| Volatility (ann.) | 37.5% | 14.5% |
| Beta vs S&P 500 | 0.88 | 1.00 |
| Max drawdown (3Y) | -29.4% | -18.8% |
| Market cap | $5.3B | – |
| P/E (trailing) | 35.3 | – |
| Dividend yield | 1.95% | 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 | GLNG | SPY |
|---|---|---|
| 2022 | +83.9% | -18.2% |
| 2023 | +4.4% | +26.2% |
| 2024 | +90.8% | +24.9% |
| 2025 | -9.7% | +17.7% |
| 2026 | +40.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLNG and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GLNG and SPY?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with -0.15 over the last year and 0.37 over 5 years.
Is SPY a good diversifier for GLNG?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 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: GLNG correlations · SPY correlations
