GSBC vs SPY: Correlation
Measured on weekly returns over the past three years, Great Southern Bancorp, Inc. (GSBC) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GSBC and SPY?
Over the past 3 years, GSBC and SPY moved with a correlation of 0.36, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.09 versus 0.36 over 3 years. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 129.9 %².
Out of 26 assets tracked against GSBC, SPY lands near the bottom at #22. The trailing year gives GSBC the advantage: +26.7% versus +20.6%, a 6.1-point spread. Risk is not evenly split, since GSBC carries 1.7 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.
GSBC vs SPY: side by side
| GSBC (Great Southern Bancorp, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +26.7% | +20.6% |
| 5-year return | +68.1% | +82.4% |
| Volatility (ann.) | 24.8% | 14.5% |
| Beta vs S&P 500 | 0.62 | 1.00 |
| Max drawdown (3Y) | -23.4% | -18.8% |
| Market cap | $0.9B | – |
| P/E (trailing) | 13.1 | – |
| Dividend yield | 2.19% | 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 | GSBC | SPY |
|---|---|---|
| 2022 | +3.1% | -18.2% |
| 2023 | +2.8% | +26.2% |
| 2024 | +3.5% | +24.9% |
| 2025 | +6.0% | +17.7% |
| 2026 | +29.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GSBC and SPY good diversifiers for each other?
Reasonably. At 0.36, GSBC and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GSBC and SPY?
As of 2026-08-27, the correlation of weekly returns between GSBC and SPY is 0.36 over 3 years, 0.09 over 1 year and 0.36 over 5 years.
Is SPY a good diversifier for GSBC?
Reasonably. At 0.36, GSBC and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 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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Hubs: GSBC correlations · SPY correlations
