RGR vs SPY: Correlation
How closely do Sturm, Ruger & Company, Inc. (RGR) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.04, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RGR and SPY?
Across a 3-year window, the weekly returns of RGR and SPY correlate at 0.04, near zero, meaning they move largely independently. The past 12 months show a tighter link (0.15) than the 3-year average (0.04). Stretching to 5 years gives 0.21, with an annualized covariance of 18.3 %².
Among the 16 assets we track against RGR, SPY ranks #6 by 3-year correlation. On 12-month performance SPY holds a 11.3-point edge, +9.3% against +20.6%. Note the risk asymmetry: RGR runs 2.1 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.
RGR vs SPY: side by side
| RGR (Sturm, Ruger & Company, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +9.3% | +20.6% |
| 5-year return | -41.2% | +82.4% |
| Volatility (ann.) | 29.8% | 14.5% |
| Beta vs S&P 500 | 0.09 | 1.00 |
| Max drawdown (3Y) | -46.0% | -18.8% |
| Market cap | $0.6B | – |
| P/E (trailing) | 51.7 | – |
| Dividend yield | 1.15% | 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 | RGR | SPY |
|---|---|---|
| 2022 | -15.4% | -18.2% |
| 2023 | -8.0% | +26.2% |
| 2024 | -20.9% | +24.9% |
| 2025 | -6.1% | +17.7% |
| 2026 | +16.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RGR and SPY good diversifiers for each other?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between RGR and SPY?
The RGR/SPY correlation stands at 0.04 on a 3-year window (1 year: 0.15, 5 years: 0.21), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for RGR?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.04 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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Hubs: RGR correlations · SPY correlations
