RCKY vs SPY: Correlation
How closely do Rocky Brands, Inc. (RCKY) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RCKY and SPY?
Over the past 3 years, RCKY and SPY moved with a correlation of 0.35, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.22 versus 0.35 over 3 years. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 346.0 %².
Among the 12 assets we track against RCKY, SPY sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months RCKY outperformed by 29.7 percentage points (+50.3% for RCKY against +20.6% for SPY). Risk is not evenly split, since RCKY carries 4.7 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.
RCKY vs SPY: side by side
| RCKY (Rocky Brands, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +50.3% | +20.6% |
| 5-year return | +0.6% | +82.4% |
| Volatility (ann.) | 68.1% | 14.5% |
| Beta vs S&P 500 | 1.66 | 1.00 |
| Max drawdown (3Y) | -68.0% | -18.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 11.9 | – |
| Dividend yield | 1.40% | 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 | RCKY | SPY |
|---|---|---|
| 2022 | -39.5% | -18.2% |
| 2023 | +31.4% | +26.2% |
| 2024 | -22.8% | +24.9% |
| 2025 | +31.9% | +17.7% |
| 2026 | +55.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RCKY and SPY good diversifiers for each other?
Reasonably. At 0.35, RCKY and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between RCKY and SPY?
As of 2026-08-27, the correlation of weekly returns between RCKY and SPY is 0.35 over 3 years, 0.22 over 1 year and 0.38 over 5 years.
Is SPY a good diversifier for RCKY?
Reasonably. At 0.35, RCKY and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: RCKY correlations · SPY correlations
