HOMB vs SPY: Correlation
Measured on weekly returns over the past three years, Home BancShares, Inc. (HOMB) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOMB and SPY?
On 3 years of weekly data the HOMB/SPY correlation comes out at 0.38, moderate. The past 12 months show a weaker link (-0.02) than the 3-year average (0.38). The 5-year figure is 0.45, and annualized covariance runs at 135.0 %².
SPY is close to the least connected end of HOMB's tracked universe, ranking #14 of 18. The last year tells two different stories: SPY led by 18.8 percentage points, +1.8% for HOMB against +20.6% for SPY. Risk is not evenly split, since HOMB 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.
HOMB vs SPY: side by side
| HOMB (Home BancShares, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +1.8% | +20.6% |
| 5-year return | +56.7% | +82.4% |
| Volatility (ann.) | 24.7% | 14.5% |
| Beta vs S&P 500 | 0.65 | 1.00 |
| Max drawdown (3Y) | -21.4% | -18.8% |
| Market cap | $5.9B | – |
| P/E (trailing) | 12.3 | – |
| Dividend yield | 2.78% | 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 | HOMB | SPY |
|---|---|---|
| 2022 | -3.7% | -18.2% |
| 2023 | +14.8% | +26.2% |
| 2024 | +15.0% | +24.9% |
| 2025 | +0.9% | +17.7% |
| 2026 | +9.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOMB and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HOMB and SPY?
The HOMB/SPY correlation stands at 0.38 on a 3-year window (1 year: -0.02, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for HOMB?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 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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Related comparisons
Hubs: HOMB correlations · SPY correlations
