RCG vs SPY: Correlation
RENN Fund, Inc (RCG) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.05.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RCG and SPY?
Over the past 3 years, RCG and SPY moved with a correlation of 0.05, which is near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.36 versus 0.05 over 3 years. Over 5 years the correlation is 0.13, and the annualized covariance of weekly returns is 19.4 %².
Among the 14 assets we track against RCG, SPY ranks #7 by 3-year correlation. Over the last 12 months SPY came out ahead by 9.5 percentage points (+11.1% against +20.6%). One caveat on sizing: RCG is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
RCG vs SPY: side by side
| RCG (RENN Fund, Inc) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +11.1% | +20.6% |
| 5-year return | +24.1% | +82.4% |
| Volatility (ann.) | 25.8% | 14.5% |
| Beta vs S&P 500 | 0.09 | 1.00 |
| Max drawdown (3Y) | -20.0% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 26.5 | – |
| Dividend yield | 0.71% | 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 | RCG | SPY |
|---|---|---|
| 2022 | -31.5% | -18.2% |
| 2023 | -4.7% | +26.2% |
| 2024 | +31.6% | +24.9% |
| 2025 | +16.2% | +17.7% |
| 2026 | +13.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RCG and SPY good diversifiers for each other?
Yes: at 0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between RCG and SPY?
The RCG/SPY correlation stands at 0.05 on a 3-year window (1 year: -0.36, 5 years: 0.13), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for RCG?
Yes: at 0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.05 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: RCG correlations · SPY correlations
