RDIB vs SPY: Correlation
Reading International Inc - Class B Voting (RDIB) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.10.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RDIB and SPY?
Across a 3-year window, the weekly returns of RDIB and SPY correlate at 0.10, weak. Little has changed lately, as the 1-year reading of 0.18 lands near the 3-year figure. Stretching to 5 years gives 0.11, with an annualized covariance of 120.7 %².
SPY is close to the least connected end of RDIB's tracked universe, ranking #7 of 10. On 12-month performance SPY holds a 7.8-point edge, +12.8% against +20.6%. Risk is not evenly split, since RDIB carries 5.8 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.
RDIB vs SPY: side by side
| RDIB (Reading International Inc - Class B Voting) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +12.8% | +20.6% |
| 5-year return | -35.9% | +82.4% |
| Volatility (ann.) | 83.4% | 14.5% |
| Beta vs S&P 500 | 0.58 | 1.00 |
| Max drawdown (3Y) | -72.8% | -18.8% |
| Market cap | $0.4B | – |
| 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 | RDIB | SPY |
|---|---|---|
| 2022 | -14.5% | -18.2% |
| 2023 | -29.1% | +26.2% |
| 2024 | -39.6% | +24.9% |
| 2025 | +36.5% | +17.7% |
| 2026 | +32.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RDIB and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
FAQ
What is the correlation between RDIB and SPY?
The RDIB/SPY correlation stands at 0.10 on a 3-year window (1 year: 0.18, 5 years: 0.11), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for RDIB?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
What does a correlation of 0.10 mean?
On the −1 to +1 scale, 0.10 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: RDIB correlations · SPY correlations
