LTC vs SPY: Correlation
Measured on weekly returns over the past three years, LTC Properties, Inc. (LTC) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.18, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LTC and SPY?
On 3 years of weekly data the LTC/SPY correlation comes out at 0.18, weak. The past 12 months show a weaker link (0.03) than the 3-year average (0.18). The 5-year figure is 0.34, and annualized covariance runs at 45.5 %².
SPY is close to the least connected end of LTC's tracked universe, ranking #10 of 14. Neither side won the trailing year by much: +18.6% against +20.6%.
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.
LTC vs SPY: side by side
| LTC (LTC Properties, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +18.6% | +20.6% |
| 5-year return | +63.7% | +82.4% |
| Volatility (ann.) | 17.7% | 14.5% |
| Beta vs S&P 500 | 0.22 | 1.00 |
| Max drawdown (3Y) | -14.5% | -18.8% |
| Market cap | $2.2B | – |
| P/E (trailing) | 14.5 | – |
| Dividend yield | 5.63% | 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 | LTC | SPY |
|---|---|---|
| 2022 | +10.5% | -18.2% |
| 2023 | -3.2% | +26.2% |
| 2024 | +14.9% | +24.9% |
| 2025 | +6.2% | +17.7% |
| 2026 | +23.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LTC and SPY good diversifiers for each other?
Yes: at 0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LTC and SPY?
As of 2026-08-27, the correlation of weekly returns between LTC and SPY is 0.18 over 3 years, 0.03 over 1 year and 0.34 over 5 years.
Is SPY a good diversifier for LTC?
Yes: at 0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.18 mean?
On the −1 to +1 scale, 0.18 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: LTC correlations · SPY correlations
