HAS vs SPY: Correlation
How closely do Hasbro (HAS) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAS and SPY?
Over the past 3 years, HAS and SPY moved with a correlation of 0.39, which is moderate. The link has loosened recently: the 1-year correlation (0.20) runs below the 3-year figure (0.39). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 180.0 %².
By 3-year correlation, SPY places #20 of the 36 assets tracked against HAS. Twelve-month performance is nearly a tie, at +19.2% for HAS and +20.6% for SPY. The rolling one-year correlation moved between 0.19 and 0.56 over the past three years, a moderate range. Risk is not evenly split, since HAS carries 2.2 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.
HAS vs SPY: side by side
| HAS (Hasbro) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +19.2% | +20.6% |
| 5-year return | +17.1% | +82.4% |
| Volatility (ann.) | 31.7% | 14.5% |
| Beta vs S&P 500 | 0.86 | 1.00 |
| Max drawdown (3Y) | -40.3% | -18.8% |
| Market cap | $13.3B | – |
| P/E (trailing) | 17.1 | – |
| Dividend yield | 2.91% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Consumer Discretionary | 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 | HAS | SPY |
|---|---|---|
| 2022 | -37.9% | -18.2% |
| 2023 | -11.9% | +26.2% |
| 2024 | +14.8% | +24.9% |
| 2025 | +52.5% | +17.7% |
| 2026 | +17.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAS and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HAS and SPY?
As of 2026-08-27, the correlation of weekly returns between HAS and SPY is 0.39 over 3 years, 0.20 over 1 year and 0.44 over 5 years.
Is SPY a good diversifier for HAS?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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: HAS correlations · SPY correlations
