QCRH vs SPY: Correlation
How closely do QCR Holdings, Inc. (QCRH) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QCRH and SPY?
Across a 3-year window, the weekly returns of QCRH and SPY correlate at 0.40, moderate. The link has loosened recently: the 1-year correlation (0.29) runs below the 3-year figure (0.40). Stretching to 5 years gives 0.41, with an annualized covariance of 167.8 %².
Among the 11 assets we track against QCRH, SPY sits near the bottom by co-movement, at rank #7. The trailing year gives QCRH the advantage: +27.0% versus +20.6%, a 6.4-point spread. Risk is not evenly split, since QCRH carries 2.0 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.
QCRH vs SPY: side by side
| QCRH (QCR Holdings, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +27.0% | +20.6% |
| 5-year return | +100.9% | +82.4% |
| Volatility (ann.) | 29.0% | 14.5% |
| Beta vs S&P 500 | 0.80 | 1.00 |
| Max drawdown (3Y) | -32.1% | -18.8% |
| Market cap | $1.7B | – |
| P/E (trailing) | 11.9 | – |
| Dividend yield | 0.32% | 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 | QCRH | SPY |
|---|---|---|
| 2022 | -11.0% | -18.2% |
| 2023 | +18.2% | +26.2% |
| 2024 | +38.6% | +24.9% |
| 2025 | +3.6% | +17.7% |
| 2026 | +21.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QCRH and SPY good diversifiers for each other?
Reasonably. At 0.40, QCRH and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QCRH and SPY?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.29 over the last year and 0.41 over 5 years.
Is SPY a good diversifier for QCRH?
Reasonably. At 0.40, QCRH and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 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: QCRH correlations · SPY correlations
