HOUR vs SPY: Correlation
Hour Loop, Inc. (HOUR) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.14.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOUR and SPY?
On 3 years of weekly data the HOUR/SPY correlation comes out at 0.14, weak. Recent behaviour matches the longer record: 0.18 over 1 year against 0.14 over 3. The 5-year figure is 0.19, and annualized covariance runs at 257.5 %².
Among the 10 assets we track against HOUR, SPY sits near the bottom by co-movement, at rank #7. Over the last 12 months HOUR came out ahead by 5.5 percentage points (+26.1% against +20.6%). One caveat on sizing: HOUR is 8.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
HOUR vs SPY: side by side
| HOUR (Hour Loop, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +26.1% | +20.6% |
| 5-year return | -76.6% | +82.4% |
| Volatility (ann.) | 126.8% | 14.5% |
| Beta vs S&P 500 | 1.23 | 1.00 |
| Max drawdown (3Y) | -74.1% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 46.8 | – |
| Dividend yield | 0.00% | 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 | HOUR | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | -47.0% | +26.2% |
| 2024 | +62.6% | +24.9% |
| 2025 | -20.0% | +17.7% |
| 2026 | +3.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOUR and SPY good diversifiers for each other?
Yes. With a correlation of 0.14, HOUR and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HOUR and SPY?
As of 2026-08-27, the correlation of weekly returns between HOUR and SPY is 0.14 over 3 years, 0.18 over 1 year and 0.19 over 5 years.
Is SPY a good diversifier for HOUR?
Yes. With a correlation of 0.14, HOUR and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.14 mean?
A reading of 0.14 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: HOUR correlations · SPY correlations
