LAMR vs SPY: Correlation
How closely do Lamar Advertising Company (LAMR) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LAMR and SPY?
On 3 years of weekly data the LAMR/SPY correlation comes out at 0.52, moderate. The link has loosened recently: the 1-year correlation (0.29) runs below the 3-year figure (0.52). The 5-year figure is 0.64, and annualized covariance runs at 187.3 %².
By 3-year correlation, SPY places #7 of the 14 assets tracked against LAMR. Their 12-month results are close: +24.0% for LAMR against +20.6% for SPY. One caveat on sizing: LAMR is 1.7 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.
LAMR vs SPY: side by side
| LAMR (Lamar Advertising Company) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +24.0% | +20.6% |
| 5-year return | +68.6% | +82.4% |
| Volatility (ann.) | 24.7% | 14.5% |
| Beta vs S&P 500 | 0.90 | 1.00 |
| Max drawdown (3Y) | -23.9% | -18.8% |
| Market cap | $15.3B | – |
| P/E (trailing) | 27.5 | – |
| Dividend yield | 4.15% | 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 | LAMR | SPY |
|---|---|---|
| 2022 | -18.0% | -18.2% |
| 2023 | +18.6% | +26.2% |
| 2024 | +20.0% | +24.9% |
| 2025 | +9.7% | +17.7% |
| 2026 | +21.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LAMR and SPY good diversifiers for each other?
Only partially. A correlation of 0.52 means LAMR and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between LAMR and SPY?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.29 over the last year and 0.64 over 5 years.
Is SPY a good diversifier for LAMR?
Only partially. A correlation of 0.52 means LAMR and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 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/lamr-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lamr-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LAMR correlations · SPY correlations
