QRHC vs SPY: Correlation
Measured on weekly returns over the past three years, Quest Resource Holding Corporation (QRHC) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QRHC and SPY?
On 3 years of weekly data the QRHC/SPY correlation comes out at 0.32, moderate. Little has changed lately, as the 1-year reading of 0.24 lands near the 3-year figure. The 5-year figure is 0.26, and annualized covariance runs at 252.1 %².
Out of 10 assets tracked against QRHC, SPY lands near the bottom at #6. Correlation aside, the last 12 months split them widely, with SPY ahead by 37.8 points (-17.2% versus +20.6%). Note the risk asymmetry: QRHC runs 3.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
QRHC vs SPY: side by side
| QRHC (Quest Resource Holding Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -17.2% | +20.6% |
| 5-year return | -78.2% | +82.4% |
| Volatility (ann.) | 54.2% | 14.5% |
| Beta vs S&P 500 | 1.21 | 1.00 |
| Max drawdown (3Y) | -91.9% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | QRHC | SPY |
|---|---|---|
| 2022 | -12.0% | -18.2% |
| 2023 | +20.0% | +26.2% |
| 2024 | -11.3% | +24.9% |
| 2025 | -71.4% | +17.7% |
| 2026 | -22.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QRHC and SPY good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QRHC and SPY?
As of 2026-08-27, the correlation of weekly returns between QRHC and SPY is 0.32 over 3 years, 0.24 over 1 year and 0.26 over 5 years.
Is SPY a good diversifier for QRHC?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.32 mean?
On the −1 to +1 scale, 0.32 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: QRHC correlations · SPY correlations
