LYTS vs SPY: Correlation
LSI Industries Inc. (LYTS) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LYTS and SPY?
On 3 years of weekly data the LYTS/SPY correlation comes out at 0.42, moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.42 over 3. The 5-year figure is 0.24, and annualized covariance runs at 236.4 %².
Among the 12 assets we track against LYTS, SPY ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 30.6 percentage points (-10.0% for LYTS against +20.6% for SPY). Risk is not evenly split, since LYTS carries 2.7 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.
LYTS vs SPY: side by side
| LYTS (LSI Industries Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -10.0% | +20.6% |
| 5-year return | +167.4% | +82.4% |
| Volatility (ann.) | 38.6% | 14.5% |
| Beta vs S&P 500 | 1.13 | 1.00 |
| Max drawdown (3Y) | -40.6% | -18.8% |
| Market cap | $0.7B | – |
| P/E (trailing) | 30.1 | – |
| Dividend yield | 0.99% | 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 | LYTS | SPY |
|---|---|---|
| 2022 | +82.9% | -18.2% |
| 2023 | +16.8% | +26.2% |
| 2024 | +39.7% | +24.9% |
| 2025 | -4.7% | +17.7% |
| 2026 | +10.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LYTS and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LYTS and SPY?
As of 2026-08-27, the correlation of weekly returns between LYTS and SPY is 0.42 over 3 years, 0.46 over 1 year and 0.24 over 5 years.
Is SPY a good diversifier for LYTS?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 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: LYTS correlations · SPY correlations
