LSF vs SPY: Correlation
Laird Superfood, Inc. (LSF) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.09.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LSF and SPY?
On 3 years of weekly data the LSF/SPY correlation comes out at 0.09, near zero, meaning they move largely independently. Lately the two have moved closer together, with the 1-year correlation at 0.36 versus 0.09 over 3 years. The 5-year figure is 0.13, and annualized covariance runs at 243.6 %².
Out of 14 assets tracked against LSF, SPY lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with SPY ahead by 53.2 points (-32.6% versus +20.6%). Risk is not evenly split, since LSF carries 12.6 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.
LSF vs SPY: side by side
| LSF (Laird Superfood, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -32.6% | +20.6% |
| 5-year return | -79.5% | +82.4% |
| Volatility (ann.) | 183.4% | 14.5% |
| Beta vs S&P 500 | 1.17 | 1.00 |
| Max drawdown (3Y) | -79.9% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| 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 | LSF | SPY |
|---|---|---|
| 2022 | -93.6% | -18.2% |
| 2023 | +8.3% | +26.2% |
| 2024 | +765.9% | +24.9% |
| 2025 | -71.8% | +17.7% |
| 2026 | +74.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LSF and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
FAQ
What is the correlation between LSF and SPY?
Using weekly returns as of 2026-08-27: 0.09 over 3 years, with 0.36 over the last year and 0.13 over 5 years.
Is SPY a good diversifier for LSF?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
What does a correlation of 0.09 mean?
On the −1 to +1 scale, 0.09 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: LSF correlations · SPY correlations
