PRK vs SPY: Correlation
Measured on weekly returns over the past three years, Park National Corporation (PRK) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRK and SPY?
Across a 3-year window, the weekly returns of PRK and SPY correlate at 0.40, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.11 versus 0.40 over 3 years. Stretching to 5 years gives 0.38, with an annualized covariance of 162.3 %².
Out of 19 assets tracked against PRK, SPY lands near the bottom at #15. Twelve-month performance is nearly a tie, at +17.2% for PRK and +20.6% for SPY. Risk is not evenly split, since PRK carries 1.9 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.
PRK vs SPY: side by side
| PRK (Park National Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +17.2% | +20.6% |
| 5-year return | +98.6% | +82.4% |
| Volatility (ann.) | 28.2% | 14.5% |
| Beta vs S&P 500 | 0.78 | 1.00 |
| Max drawdown (3Y) | -30.4% | -18.8% |
| Market cap | $3.6B | – |
| P/E (trailing) | 17.7 | – |
| Dividend yield | 2.18% | 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 | PRK | SPY |
|---|---|---|
| 2022 | +6.1% | -18.2% |
| 2023 | -2.0% | +26.2% |
| 2024 | +33.0% | +24.9% |
| 2025 | -8.1% | +17.7% |
| 2026 | +32.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRK and SPY good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PRK and SPY?
The PRK/SPY correlation stands at 0.40 on a 3-year window (1 year: 0.11, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for PRK?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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: PRK correlations · SPY correlations
