PROV vs SPY: Correlation
Provident Financial Holdings, Inc. (PROV) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PROV and SPY?
Over the past 3 years, PROV and SPY moved with a correlation of 0.20, which is weak. Little has changed lately, as the 1-year reading of 0.26 lands near the 3-year figure. Over 5 years the correlation is 0.18, and the annualized covariance of weekly returns is 50.4 %².
Out of 10 assets tracked against PROV, SPY lands near the bottom at #6. Neither side won the trailing year by much: +23.3% against +20.6%.
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.
PROV vs SPY: side by side
| PROV (Provident Financial Holdings, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +23.3% | +20.6% |
| 5-year return | +30.9% | +82.4% |
| Volatility (ann.) | 17.1% | 14.5% |
| Beta vs S&P 500 | 0.24 | 1.00 |
| Max drawdown (3Y) | -19.5% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 17.8 | – |
| Dividend yield | 3.05% | 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 | PROV | SPY |
|---|---|---|
| 2022 | -13.5% | -18.2% |
| 2023 | -4.3% | +26.2% |
| 2024 | +31.4% | +24.9% |
| 2025 | +3.7% | +17.7% |
| 2026 | +18.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PROV and SPY good diversifiers for each other?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PROV and SPY?
The PROV/SPY correlation stands at 0.20 on a 3-year window (1 year: 0.26, 5 years: 0.18), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for PROV?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.20 mean?
A reading of 0.20 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: PROV correlations · SPY correlations
