PACS vs SPY: Correlation
Measured on weekly returns over the past three years, PACS Group, Inc. (PACS) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.01, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PACS and SPY?
Over the past 3 years, PACS and SPY moved with a correlation of 0.01, which is near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.11) runs below the 3-year figure (0.01). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 12.0 %².
Among the 35 assets we track against PACS, SPY ranks #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PACS outperformed by 252.4 percentage points (+273.0% for PACS against +20.6% for SPY). Risk is not evenly split, since PACS carries 8.3 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.
PACS vs SPY: side by side
| PACS (PACS Group, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +273.0% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 120.5% | 14.5% |
| Beta vs S&P 500 | 0.06 | 1.00 |
| Max drawdown (3Y) | -82.0% | -18.8% |
| Market cap | $7.0B | – |
| P/E (trailing) | 25.9 | – |
| 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 | PACS | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | – | +24.9% |
| 2025 | +192.8% | +17.7% |
| 2026 | +15.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PACS and SPY good diversifiers for each other?
Yes. With a correlation of 0.01, PACS and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PACS and SPY?
Using weekly returns as of 2026-08-27: 0.01 over 3 years, with -0.11 over the last year and n/a over 5 years.
Is SPY a good diversifier for PACS?
Yes. With a correlation of 0.01, PACS and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.01 mean?
On the −1 to +1 scale, 0.01 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: PACS correlations · SPY correlations
