LOAR vs SPY: Correlation
How closely do Loar Holdings Inc. (LOAR) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOAR and SPY?
Over the past 3 years, LOAR and SPY moved with a correlation of 0.35, which is moderate. Little has changed lately, as the 1-year reading of 0.38 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 252.7 %².
Within LOAR's tracked universe of 23 assets, SPY comes in at #9 by 3-year correlation. The last year tells two different stories: SPY led by 21.0 percentage points, -0.4% for LOAR against +20.6% for SPY. Risk is not evenly split, since LOAR carries 3.4 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.
LOAR vs SPY: side by side
| LOAR (Loar Holdings Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -0.4% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 49.2% | 14.5% |
| Beta vs S&P 500 | 1.21 | 1.00 |
| Max drawdown (3Y) | -46.0% | -18.8% |
| Market cap | $6.8B | – |
| P/E (trailing) | 102.9 | – |
| 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 | LOAR | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | – | +24.9% |
| 2025 | -8.0% | +17.7% |
| 2026 | +7.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOAR and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LOAR and SPY?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.38 over the last year and n/a over 5 years.
Is SPY a good diversifier for LOAR?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 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: LOAR correlations · SPY correlations
