ODC vs SPY: Correlation
Oil-Dri Corporation Of America (ODC) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ODC and SPY?
On 3 years of weekly data the ODC/SPY correlation comes out at 0.16, weak. The past 12 months show a weaker link (-0.02) than the 3-year average (0.16). The 5-year figure is 0.25, and annualized covariance runs at 86.4 %².
SPY is close to the least connected end of ODC's tracked universe, ranking #7 of 10. Correlation aside, the last 12 months split them widely, with ODC ahead by 37.4 points (+58.0% versus +20.6%). Risk is not evenly split, since ODC carries 2.5 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.
ODC vs SPY: side by side
| ODC (Oil-Dri Corporation Of America) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +58.0% | +20.6% |
| 5-year return | +476.5% | +82.4% |
| Volatility (ann.) | 36.6% | 14.5% |
| Beta vs S&P 500 | 0.41 | 1.00 |
| Max drawdown (3Y) | -32.7% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 23.7 | – |
| Dividend yield | 0.85% | 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 | ODC | SPY |
|---|---|---|
| 2022 | +6.5% | -18.2% |
| 2023 | +104.8% | +26.2% |
| 2024 | +32.9% | +24.9% |
| 2025 | +13.2% | +17.7% |
| 2026 | +88.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ODC and SPY good diversifiers for each other?
Yes. With a correlation of 0.16, ODC and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ODC and SPY?
As of 2026-08-27, the correlation of weekly returns between ODC and SPY is 0.16 over 3 years, -0.02 over 1 year and 0.25 over 5 years.
Is SPY a good diversifier for ODC?
Yes. With a correlation of 0.16, ODC and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.16 mean?
A reading of 0.16 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: ODC correlations · SPY correlations
