LEA vs SPY: Correlation
How closely do Lear Corporation (LEA) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LEA and SPY?
On 3 years of weekly data the LEA/SPY correlation comes out at 0.30, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.10 versus 0.30 over 3 years. The 5-year figure is 0.48, and annualized covariance runs at 126.6 %².
SPY is close to the least connected end of LEA's tracked universe, ranking #13 of 17. On 12-month performance SPY holds a 5.4-point edge, +15.2% against +20.6%. Risk is not evenly split, since LEA carries 2.0 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.
LEA vs SPY: side by side
| LEA (Lear Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +15.2% | +20.6% |
| 5-year return | -13.4% | +82.4% |
| Volatility (ann.) | 28.8% | 14.5% |
| Beta vs S&P 500 | 0.61 | 1.00 |
| Max drawdown (3Y) | -47.0% | -18.8% |
| Market cap | $8.2B | – |
| P/E (trailing) | 11.6 | – |
| Dividend yield | 2.48% | 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 | LEA | SPY |
|---|---|---|
| 2022 | -30.7% | -18.2% |
| 2023 | +16.4% | +26.2% |
| 2024 | -31.2% | +24.9% |
| 2025 | +24.9% | +17.7% |
| 2026 | +9.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LEA and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LEA and SPY?
As of 2026-08-27, the correlation of weekly returns between LEA and SPY is 0.30 over 3 years, 0.10 over 1 year and 0.48 over 5 years.
Is SPY a good diversifier for LEA?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 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: LEA correlations · SPY correlations
