OBK vs SPY: Correlation
How closely do Origin Bancorp, Inc. (OBK) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OBK and SPY?
Across a 3-year window, the weekly returns of OBK and SPY correlate at 0.45, moderate. The past 12 months show a weaker link (0.17) than the 3-year average (0.45). Stretching to 5 years gives 0.44, with an annualized covariance of 188.3 %².
Out of 11 assets tracked against OBK, SPY lands near the bottom at #7. Their recent paths diverged sharply: over the last 12 months OBK outperformed by 18.3 percentage points (+38.9% for OBK against +20.6% for SPY). Risk is not evenly split, since OBK carries 2.0 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.
OBK vs SPY: side by side
| OBK (Origin Bancorp, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +38.9% | +20.6% |
| 5-year return | +43.8% | +82.4% |
| Volatility (ann.) | 29.1% | 14.5% |
| Beta vs S&P 500 | 0.90 | 1.00 |
| Max drawdown (3Y) | -28.0% | -18.8% |
| Market cap | $1.6B | – |
| P/E (trailing) | 16.7 | – |
| Dividend yield | 1.31% | 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 | OBK | SPY |
|---|---|---|
| 2022 | -13.3% | -18.2% |
| 2023 | -1.2% | +26.2% |
| 2024 | -4.6% | +24.9% |
| 2025 | +14.8% | +17.7% |
| 2026 | +43.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OBK and SPY good diversifiers for each other?
Reasonably. At 0.45, OBK and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between OBK and SPY?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.17 over the last year and 0.44 over 5 years.
Is SPY a good diversifier for OBK?
Reasonably. At 0.45, OBK and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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: OBK correlations · SPY correlations
