LEU vs SPY: Correlation
Measured on weekly returns over the past three years, Centrus Energy Corp. (LEU) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LEU and SPY?
Across a 3-year window, the weekly returns of LEU and SPY correlate at 0.28, weak. The link has tightened recently: the 1-year correlation (0.44) runs above the 3-year figure (0.28). Stretching to 5 years gives 0.28, with an annualized covariance of 348.4 %².
Among the 14 assets we track against LEU, SPY sits near the bottom by co-movement, at rank #10. The last year tells two different stories: SPY led by 22.4 percentage points, -1.8% for LEU against +20.6% for SPY. Note the risk asymmetry: LEU runs 5.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
LEU vs SPY: side by side
| LEU (Centrus Energy Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -1.8% | +20.6% |
| 5-year return | +636.7% | +82.4% |
| Volatility (ann.) | 84.8% | 14.5% |
| Beta vs S&P 500 | 1.67 | 1.00 |
| Max drawdown (3Y) | -66.4% | -18.8% |
| Market cap | $3.9B | – |
| P/E (trailing) | 98.9 | – |
| Dividend yield | 0.00% | 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 | LEU | SPY |
|---|---|---|
| 2022 | -34.9% | -18.2% |
| 2023 | +67.5% | +26.2% |
| 2024 | +22.4% | +24.9% |
| 2025 | +264.4% | +17.7% |
| 2026 | -19.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LEU and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LEU and SPY?
The LEU/SPY correlation stands at 0.28 on a 3-year window (1 year: 0.44, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for LEU?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 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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Hubs: LEU correlations · SPY correlations
