RBC vs SPY: Correlation
RBC Bearings Incorporated (RBC) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RBC and SPY?
On 3 years of weekly data the RBC/SPY correlation comes out at 0.48, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.28 versus 0.48 over 3 years. The 5-year figure is 0.55, and annualized covariance runs at 182.2 %².
By 3-year correlation, SPY places #7 of the 12 assets tracked against RBC. On 12-month performance RBC holds a 6.8-point edge, +27.4% against +20.6%. Risk is not evenly split, since RBC carries 1.8 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.
RBC vs SPY: side by side
| RBC (RBC Bearings Incorporated) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +27.4% | +20.6% |
| 5-year return | +128.1% | +82.4% |
| Volatility (ann.) | 26.5% | 14.5% |
| Beta vs S&P 500 | 0.87 | 1.00 |
| Max drawdown (3Y) | -23.6% | -18.8% |
| Market cap | $16.1B | – |
| P/E (trailing) | 50.7 | – |
| 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 | RBC | SPY |
|---|---|---|
| 2022 | +4.2% | -18.2% |
| 2023 | +36.1% | +26.2% |
| 2024 | +5.0% | +24.9% |
| 2025 | +49.9% | +17.7% |
| 2026 | +13.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RBC and SPY good diversifiers for each other?
Reasonably. At 0.48, RBC and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between RBC and SPY?
The RBC/SPY correlation stands at 0.48 on a 3-year window (1 year: 0.28, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for RBC?
Reasonably. At 0.48, RBC and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 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: RBC correlations · SPY correlations
