PRMB vs SPY: Correlation
Primo Brands Corporation (PRMB) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRMB and SPY?
Across a 3-year window, the weekly returns of PRMB and SPY correlate at 0.23, weak. The past 12 months show a tighter link (0.40) than the 3-year average (0.23). Stretching to 5 years gives 0.37, with an annualized covariance of 129.4 %².
By 3-year correlation, SPY places #7 of the 14 assets tracked against PRMB. Correlation aside, the last 12 months split them widely, with SPY ahead by 30.5 points (-9.9% versus +20.6%). Risk is not evenly split, since PRMB carries 2.7 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.
PRMB vs SPY: side by side
| PRMB (Primo Brands Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -9.9% | +20.6% |
| 5-year return | +43.1% | +82.4% |
| Volatility (ann.) | 39.7% | 14.5% |
| Beta vs S&P 500 | 0.62 | 1.00 |
| Max drawdown (3Y) | -59.1% | -18.8% |
| Market cap | $8.1B | – |
| P/E (trailing) | 77.4 | – |
| Dividend yield | 1.91% | 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 | PRMB | SPY |
|---|---|---|
| 2022 | -10.1% | -18.2% |
| 2023 | -0.9% | +26.2% |
| 2024 | +114.6% | +24.9% |
| 2025 | -46.0% | +17.7% |
| 2026 | +39.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRMB and SPY good diversifiers for each other?
Reasonably. At 0.23, PRMB and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PRMB and SPY?
As of 2026-08-27, the correlation of weekly returns between PRMB and SPY is 0.23 over 3 years, 0.40 over 1 year and 0.37 over 5 years.
Is SPY a good diversifier for PRMB?
Reasonably. At 0.23, PRMB and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.23 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.
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Related comparisons
Hubs: PRMB correlations · SPY correlations
