RBKB vs SPY: Correlation
Measured on weekly returns over the past three years, Rhinebeck Bancorp, Inc. (RBKB) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.04, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RBKB and SPY?
Across a 3-year window, the weekly returns of RBKB and SPY correlate at 0.04, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.14) than the 3-year average (0.04). Stretching to 5 years gives 0.07, with an annualized covariance of 17.2 %².
By 3-year correlation, SPY places #6 of the 13 assets tracked against RBKB. The trailing year gives RBKB the advantage: +31.5% versus +20.6%, a 10.9-point spread. Note the risk asymmetry: RBKB runs 2.0 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.
RBKB vs SPY: side by side
| RBKB (Rhinebeck Bancorp, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +31.5% | +20.6% |
| 5-year return | +64.9% | +82.4% |
| Volatility (ann.) | 29.5% | 14.5% |
| Beta vs S&P 500 | 0.08 | 1.00 |
| Max drawdown (3Y) | -30.0% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 14.0 | – |
| 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 | RBKB | SPY |
|---|---|---|
| 2022 | -14.5% | -18.2% |
| 2023 | -11.6% | +26.2% |
| 2024 | +20.1% | +24.9% |
| 2025 | +24.3% | +17.7% |
| 2026 | +46.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RBKB and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.04 means the two rarely move for the same reasons.
FAQ
What is the correlation between RBKB and SPY?
As of 2026-08-27, the correlation of weekly returns between RBKB and SPY is 0.04 over 3 years, -0.14 over 1 year and 0.07 over 5 years.
Is SPY a good diversifier for RBKB?
By historical standards, yes. A correlation of 0.04 means the two rarely move for the same reasons.
What does a correlation of 0.04 mean?
On the −1 to +1 scale, 0.04 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/rbkb-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rbkb-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RBKB correlations · SPY correlations
