PBAM vs SPY: Correlation
Measured on weekly returns over the past three years, Private Bancorp of America, Inc. (PBAM) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.10, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PBAM and SPY?
Over the past 3 years, PBAM and SPY moved with a correlation of 0.10, which is weak. Recent behaviour matches the longer record: 0.11 over 1 year against 0.10 over 3. Over 5 years the correlation is 0.08, and the annualized covariance of weekly returns is 27.4 %².
Among the 11 assets we track against PBAM, SPY sits near the bottom by co-movement, at rank #7. The last year tells two different stories: PBAM led by 33.0 percentage points, +53.6% for PBAM against +20.6% for SPY.
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.
PBAM vs SPY: side by side
| PBAM (Private Bancorp of America, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +53.6% | +20.6% |
| 5-year return | +253.3% | +82.4% |
| Volatility (ann.) | 19.0% | 14.5% |
| Beta vs S&P 500 | 0.13 | 1.00 |
| Max drawdown (3Y) | -14.8% | -18.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 11.5 | – |
| 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 | PBAM | SPY |
|---|---|---|
| 2022 | +20.2% | -18.2% |
| 2023 | +8.1% | +26.2% |
| 2024 | +65.0% | +24.9% |
| 2025 | -0.4% | +17.7% |
| 2026 | +53.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PBAM and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
FAQ
What is the correlation between PBAM and SPY?
As of 2026-08-27, the correlation of weekly returns between PBAM and SPY is 0.10 over 3 years, 0.11 over 1 year and 0.08 over 5 years.
Is SPY a good diversifier for PBAM?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
What does a correlation of 0.10 mean?
A reading of 0.10 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: PBAM correlations · SPY correlations
