HOFT vs SPY: Correlation
How closely do Hooker Furnishings Corporation (HOFT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOFT and SPY?
Over the past 3 years, HOFT and SPY moved with a correlation of 0.30, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.01 versus 0.30 over 3 years. Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 231.5 %².
Within HOFT's tracked universe of 12 assets, SPY comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HOFT ahead by 18.3 points (+38.9% versus +20.6%). Note the risk asymmetry: HOFT runs 3.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HOFT vs SPY: side by side
| HOFT (Hooker Furnishings Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +38.9% | +20.6% |
| 5-year return | -46.3% | +82.4% |
| Volatility (ann.) | 53.9% | 14.5% |
| Beta vs S&P 500 | 1.11 | 1.00 |
| Max drawdown (3Y) | -69.9% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 5.02% | 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 | HOFT | SPY |
|---|---|---|
| 2022 | -15.7% | -18.2% |
| 2023 | +45.7% | +26.2% |
| 2024 | -43.3% | +24.9% |
| 2025 | -13.3% | +17.7% |
| 2026 | +21.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOFT and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HOFT and SPY?
The HOFT/SPY correlation stands at 0.30 on a 3-year window (1 year: 0.01, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for HOFT?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 mean?
A reading of 0.30 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: HOFT correlations · SPY correlations
