LADR vs SPY: Correlation
Ladder Capital Corp (LADR) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LADR and SPY?
Across a 3-year window, the weekly returns of LADR and SPY correlate at 0.38, moderate. Recent behaviour matches the longer record: 0.30 over 1 year against 0.38 over 3. Stretching to 5 years gives 0.52, with an annualized covariance of 103.9 %².
Among the 18 assets we track against LADR, SPY sits near the bottom by co-movement, at rank #14. Correlation aside, the last 12 months split them widely, with SPY ahead by 27.3 points (-6.7% versus +20.6%).
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.
LADR vs SPY: side by side
| LADR (Ladder Capital Corp) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -6.7% | +20.6% |
| 5-year return | +32.1% | +82.4% |
| Volatility (ann.) | 19.1% | 14.5% |
| Beta vs S&P 500 | 0.50 | 1.00 |
| Max drawdown (3Y) | -15.3% | -18.8% |
| Market cap | $1.2B | – |
| P/E (trailing) | 23.4 | – |
| Dividend yield | 9.33% | 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 | LADR | SPY |
|---|---|---|
| 2022 | -9.0% | -18.2% |
| 2023 | +25.2% | +26.2% |
| 2024 | +5.5% | +24.9% |
| 2025 | +6.7% | +17.7% |
| 2026 | -6.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LADR and SPY good diversifiers for each other?
Reasonably. At 0.38, LADR and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LADR and SPY?
The LADR/SPY correlation stands at 0.38 on a 3-year window (1 year: 0.30, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for LADR?
Reasonably. At 0.38, LADR and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ladr-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ladr-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LADR correlations · SPY correlations
