LPX vs SPY: Correlation
Louisiana-Pacific Corporation (LPX) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LPX and SPY?
Across a 3-year window, the weekly returns of LPX and SPY correlate at 0.45, moderate. The past 12 months show a weaker link (0.27) than the 3-year average (0.45). Stretching to 5 years gives 0.52, with an annualized covariance of 241.0 %².
By 3-year correlation, SPY places #13 of the 20 assets tracked against LPX. Correlation aside, the last 12 months split them widely, with SPY ahead by 45.9 points (-25.3% versus +20.6%). One caveat on sizing: LPX is 2.6 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.
LPX vs SPY: side by side
| LPX (Louisiana-Pacific Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -25.3% | +20.6% |
| 5-year return | +15.9% | +82.4% |
| Volatility (ann.) | 37.4% | 14.5% |
| Beta vs S&P 500 | 1.15 | 1.00 |
| Max drawdown (3Y) | -43.1% | -18.8% |
| Market cap | $4.9B | – |
| P/E (trailing) | 93.1 | – |
| Dividend yield | 1.63% | 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 | LPX | SPY |
|---|---|---|
| 2022 | -23.4% | -18.2% |
| 2023 | +21.5% | +26.2% |
| 2024 | +47.9% | +24.9% |
| 2025 | -21.0% | +17.7% |
| 2026 | -11.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LPX and SPY good diversifiers for each other?
Reasonably. At 0.45, LPX and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LPX and SPY?
As of 2026-08-27, the correlation of weekly returns between LPX and SPY is 0.45 over 3 years, 0.27 over 1 year and 0.52 over 5 years.
Is SPY a good diversifier for LPX?
Reasonably. At 0.45, LPX and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 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: LPX correlations · SPY correlations
