PCF vs SPY: Correlation
High Income Securities Fund (PCF) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PCF and SPY?
Over the past 3 years, PCF and SPY moved with a correlation of 0.56, which is moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.56 over 3. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 103.1 %².
By 3-year correlation, SPY places #6 of the 11 assets tracked against PCF. The last year tells two different stories: SPY led by 24.5 percentage points, -3.9% for PCF 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.
PCF vs SPY: side by side
| PCF (High Income Securities Fund) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -3.9% | +20.6% |
| 5-year return | -2.1% | +82.4% |
| Volatility (ann.) | 12.8% | 14.5% |
| Beta vs S&P 500 | 0.49 | 1.00 |
| Max drawdown (3Y) | -13.8% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 25.8 | – |
| Dividend yield | 13.22% | 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 | PCF | SPY |
|---|---|---|
| 2022 | -15.6% | -18.2% |
| 2023 | +10.4% | +26.2% |
| 2024 | +13.8% | +24.9% |
| 2025 | +5.2% | +17.7% |
| 2026 | -3.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PCF and SPY good diversifiers for each other?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between PCF and SPY?
As of 2026-08-27, the correlation of weekly returns between PCF and SPY is 0.56 over 3 years, 0.51 over 1 year and 0.54 over 5 years.
Is SPY a good diversifier for PCF?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.56 mean?
A reading of 0.56 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: PCF correlations · SPY correlations
