PBFS vs SPY: Correlation
Pioneer Bancorp, Inc. (PBFS) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PBFS and SPY?
Over the past 3 years, PBFS and SPY moved with a correlation of 0.24, which is weak. Lately the two have drifted apart, with the 1-year correlation at 0.00 versus 0.24 over 3 years. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 77.0 %².
Among the 10 assets we track against PBFS, SPY sits near the bottom by co-movement, at rank #6. Correlation aside, the last 12 months split them widely, with PBFS ahead by 17.7 points (+38.3% versus +20.6%). Risk is not evenly split, since PBFS carries 1.5 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.
PBFS vs SPY: side by side
| PBFS (Pioneer Bancorp, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +38.3% | +20.6% |
| 5-year return | +44.7% | +82.4% |
| Volatility (ann.) | 22.2% | 14.5% |
| Beta vs S&P 500 | 0.37 | 1.00 |
| Max drawdown (3Y) | -19.3% | -18.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 25.3 | – |
| 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 | PBFS | SPY |
|---|---|---|
| 2022 | +0.7% | -18.2% |
| 2023 | -12.2% | +26.2% |
| 2024 | +15.1% | +24.9% |
| 2025 | +17.0% | +17.7% |
| 2026 | +31.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PBFS and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PBFS and SPY?
The PBFS/SPY correlation stands at 0.24 on a 3-year window (1 year: 0.00, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for PBFS?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.24 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pbfs-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pbfs-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PBFS correlations · SPY correlations
