LXU vs SPY: Correlation
Measured on weekly returns over the past three years, LSB Industries, Inc. (LXU) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.17, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LXU and SPY?
On 3 years of weekly data the LXU/SPY correlation comes out at 0.17, weak. The link has loosened recently: the 1-year correlation (-0.29) runs below the 3-year figure (0.17). The 5-year figure is 0.14, and annualized covariance runs at 110.5 %².
Among the 12 assets we track against LXU, SPY sits near the bottom by co-movement, at rank #8. On 12-month performance LXU holds a 5.6-point edge, +26.2% against +20.6%. Note the risk asymmetry: LXU runs 3.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
LXU vs SPY: side by side
| LXU (LSB Industries, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +26.2% | +20.6% |
| 5-year return | +67.6% | +82.4% |
| Volatility (ann.) | 45.6% | 14.5% |
| Beta vs S&P 500 | 0.53 | 1.00 |
| Max drawdown (3Y) | -53.8% | -18.8% |
| Market cap | $0.8B | – |
| P/E (trailing) | 20.9 | – |
| 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 | LXU | SPY |
|---|---|---|
| 2022 | +20.4% | -18.2% |
| 2023 | -30.0% | +26.2% |
| 2024 | -18.5% | +24.9% |
| 2025 | +12.0% | +17.7% |
| 2026 | +22.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LXU and SPY good diversifiers for each other?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LXU and SPY?
The LXU/SPY correlation stands at 0.17 on a 3-year window (1 year: -0.29, 5 years: 0.14), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for LXU?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.17 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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Hubs: LXU correlations · SPY correlations
