LARK vs SPY: Correlation
How closely do Landmark Bancorp Inc. (LARK) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.20, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LARK and SPY?
On 3 years of weekly data the LARK/SPY correlation comes out at 0.20, weak. Recent behaviour matches the longer record: 0.25 over 1 year against 0.20 over 3. The 5-year figure is 0.17, and annualized covariance runs at 73.5 %².
Among the 13 assets we track against LARK, SPY ranks #8 by 3-year correlation. The trailing year gives LARK the advantage: +28.2% versus +20.6%, a 7.6-point spread. One caveat on sizing: LARK is 1.8 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.
LARK vs SPY: side by side
| LARK (Landmark Bancorp Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +28.2% | +20.6% |
| 5-year return | +66.0% | +82.4% |
| Volatility (ann.) | 26.0% | 14.5% |
| Beta vs S&P 500 | 0.35 | 1.00 |
| Max drawdown (3Y) | -20.7% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 9.8 | – |
| Dividend yield | 2.57% | 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 | LARK | SPY |
|---|---|---|
| 2022 | -18.5% | -18.2% |
| 2023 | -4.2% | +26.2% |
| 2024 | +32.6% | +24.9% |
| 2025 | +18.2% | +17.7% |
| 2026 | +23.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LARK and SPY good diversifiers for each other?
Reasonably. At 0.20, LARK and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LARK and SPY?
As of 2026-08-27, the correlation of weekly returns between LARK and SPY is 0.20 over 3 years, 0.25 over 1 year and 0.17 over 5 years.
Is SPY a good diversifier for LARK?
Reasonably. At 0.20, LARK and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.20 mean?
A reading of 0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lark-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lark-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LARK correlations · SPY correlations
