RL vs SPY: Correlation
Ralph Lauren Corporation (RL) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RL and SPY?
On 3 years of weekly data the RL/SPY correlation comes out at 0.46, moderate. The link has loosened recently: the 1-year correlation (0.35) runs below the 3-year figure (0.46). The 5-year figure is 0.54, and annualized covariance runs at 223.2 %².
Among the 42 assets we track against RL, SPY ranks #17 by 3-year correlation. Twelve-month performance is nearly a tie, at +20.7% for RL and +20.6% for SPY. The rolling one-year correlation moved between 0.30 and 0.63 over the past three years, a moderate range. Note the risk asymmetry: RL runs 2.3 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.
RL vs SPY: side by side
| RL (Ralph Lauren Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +20.7% | +20.6% |
| 5-year return | +232.5% | +82.4% |
| Volatility (ann.) | 33.6% | 14.5% |
| Beta vs S&P 500 | 1.07 | 1.00 |
| Max drawdown (3Y) | -36.2% | -18.8% |
| Market cap | $21.0B | – |
| P/E (trailing) | 22.8 | – |
| Dividend yield | 1.03% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Consumer Discretionary | 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 | RL | SPY |
|---|---|---|
| 2022 | -8.4% | -18.2% |
| 2023 | +39.8% | +26.2% |
| 2024 | +62.9% | +24.9% |
| 2025 | +55.0% | +17.7% |
| 2026 | +0.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RL and SPY good diversifiers for each other?
Reasonably. At 0.46, RL and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between RL and SPY?
The RL/SPY correlation stands at 0.46 on a 3-year window (1 year: 0.35, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for RL?
Reasonably. At 0.46, RL and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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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