ROST vs SPY: Correlation
Ross Stores (ROST) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ROST and SPY?
Across a 3-year window, the weekly returns of ROST and SPY correlate at 0.40, moderate. The link has loosened recently: the 1-year correlation (0.14) runs below the 3-year figure (0.40). Stretching to 5 years gives 0.52, with an annualized covariance of 137.7 %².
Among the 32 assets we track against ROST, SPY ranks #18 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ROST ahead by 33.7 points (+54.3% versus +20.6%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.14 to 0.70. One caveat on sizing: ROST is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ROST vs SPY: side by side
| ROST (Ross Stores) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +54.3% | +20.6% |
| 5-year return | +105.0% | +82.4% |
| Volatility (ann.) | 24.0% | 14.5% |
| Beta vs S&P 500 | 0.66 | 1.00 |
| Max drawdown (3Y) | -21.1% | -18.8% |
| Market cap | $73.7B | – |
| P/E (trailing) | 27.8 | – |
| Dividend yield | 0.72% | 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 | ROST | SPY |
|---|---|---|
| 2022 | +2.9% | -18.2% |
| 2023 | +20.6% | +26.2% |
| 2024 | +10.4% | +24.9% |
| 2025 | +20.4% | +17.7% |
| 2026 | +28.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.12% of SPY is ROST itself, so the fund partly moves with the stock by construction.
Are ROST and SPY good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ROST and SPY?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.14 over the last year and 0.52 over 5 years.
Is SPY a good diversifier for ROST?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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: ROST correlations · SPY correlations
