RECT vs SPY: Correlation
Rectitude Holdings Ltd (RECT) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.14.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RECT and SPY?
Over the past 3 years, RECT and SPY moved with a correlation of 0.14, which is weak. Lately the two have moved closer together, with the 1-year correlation at 0.27 versus 0.14 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 140.1 %².
Within RECT's tracked universe of 18 assets, SPY comes in at #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 92.7 percentage points (-72.1% for RECT against +20.6% for SPY). Risk is not evenly split, since RECT carries 4.5 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.
RECT vs SPY: side by side
| RECT (Rectitude Holdings Ltd) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -72.1% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 65.0% | 14.5% |
| Beta vs S&P 500 | 0.67 | 1.00 |
| Max drawdown (3Y) | -85.4% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 6.4 | – |
| 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 | RECT | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | – | +24.9% |
| 2025 | -74.1% | +17.7% |
| 2026 | -27.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RECT and SPY good diversifiers for each other?
Yes. With a correlation of 0.14, RECT and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RECT and SPY?
The RECT/SPY correlation stands at 0.14 on a 3-year window (1 year: 0.27, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for RECT?
Yes. With a correlation of 0.14, RECT and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.14 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: RECT correlations · SPY correlations
