LEG vs SPY: Correlation
Leggett & Platt, Incorporated (LEG) 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 LEG and SPY?
Across a 3-year window, the weekly returns of LEG and SPY correlate at 0.38, moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. Stretching to 5 years gives 0.43, with an annualized covariance of 269.0 %².
Out of 16 assets tracked against LEG, SPY lands near the bottom at #12. On 12-month performance SPY holds a 7.9-point edge, +12.7% against +20.6%. Risk is not evenly split, since LEG carries 3.3 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.
LEG vs SPY: side by side
| LEG (Leggett & Platt, Incorporated) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +12.7% | +20.6% |
| 5-year return | -72.6% | +82.4% |
| Volatility (ann.) | 48.5% | 14.5% |
| Beta vs S&P 500 | 1.29 | 1.00 |
| Max drawdown (3Y) | -76.8% | -18.8% |
| Market cap | $1.3B | – |
| P/E (trailing) | 5.9 | – |
| Dividend yield | 2.15% | 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 | LEG | SPY |
|---|---|---|
| 2022 | -17.8% | -18.2% |
| 2023 | -13.5% | +26.2% |
| 2024 | -61.9% | +24.9% |
| 2025 | +17.0% | +17.7% |
| 2026 | +1.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LEG and SPY good diversifiers for each other?
Reasonably. At 0.38, LEG and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LEG and SPY?
As of 2026-08-27, the correlation of weekly returns between LEG and SPY is 0.38 over 3 years, 0.43 over 1 year and 0.43 over 5 years.
Is SPY a good diversifier for LEG?
Reasonably. At 0.38, LEG and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: LEG correlations · SPY correlations
