PBK vs SPY: Correlation
How closely do PowerBank Corporation (PBK) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.03, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PBK and SPY?
Over the past 3 years, PBK and SPY moved with a correlation of 0.03, which is near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.13 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 40.5 %².
Within PBK's tracked universe of 20 assets, SPY comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 99.3 points (-78.7% versus +20.6%). Risk is not evenly split, since PBK carries 6.6 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.
PBK vs SPY: side by side
| PBK (PowerBank Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -78.7% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 96.0% | 14.5% |
| Beta vs S&P 500 | 0.19 | 1.00 |
| Max drawdown (3Y) | -93.7% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| 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 | PBK | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | – | +24.9% |
| 2025 | -11.7% | +17.7% |
| 2026 | -75.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PBK and SPY good diversifiers for each other?
Yes. With a correlation of 0.03, PBK and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PBK and SPY?
Using weekly returns as of 2026-08-27: 0.03 over 3 years, with 0.13 over the last year and n/a over 5 years.
Is SPY a good diversifier for PBK?
Yes. With a correlation of 0.03, PBK and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.03 mean?
A reading of 0.03 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: PBK correlations · SPY correlations
