LXFR vs SPY: Correlation
Luxfer Holdings PLC (LXFR) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LXFR and SPY?
Across a 3-year window, the weekly returns of LXFR and SPY correlate at 0.32, moderate. The relationship has been stable: the 1-year correlation (0.26) sits close to the 3-year figure. Stretching to 5 years gives 0.35, with an annualized covariance of 203.7 %².
Among the 11 assets we track against LXFR, SPY sits near the bottom by co-movement, at rank #7. The trailing year gives LXFR the advantage: +31.6% versus +20.6%, a 11.0-point spread. One caveat on sizing: LXFR is 3.0 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.
LXFR vs SPY: side by side
| LXFR (Luxfer Holdings PLC) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +31.6% | +20.6% |
| 5-year return | -1.2% | +82.4% |
| Volatility (ann.) | 44.1% | 14.5% |
| Beta vs S&P 500 | 0.97 | 1.00 |
| Max drawdown (3Y) | -42.1% | -18.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 35.0 | – |
| Dividend yield | 3.03% | 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 | LXFR | SPY |
|---|---|---|
| 2022 | -26.6% | -18.2% |
| 2023 | -32.3% | +26.2% |
| 2024 | +53.9% | +24.9% |
| 2025 | +7.8% | +17.7% |
| 2026 | +30.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LXFR and SPY good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LXFR and SPY?
Using weekly returns as of 2026-08-27: 0.32 over 3 years, with 0.26 over the last year and 0.35 over 5 years.
Is SPY a good diversifier for LXFR?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.32 mean?
A reading of 0.32 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: LXFR correlations · SPY correlations
