RRC vs SPY: Correlation
Measured on weekly returns over the past three years, Range Resources Corporation (RRC) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.15, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RRC and SPY?
On 3 years of weekly data the RRC/SPY correlation comes out at 0.15, weak. The link has loosened recently: the 1-year correlation (-0.35) runs below the 3-year figure (0.15). The 5-year figure is 0.27, and annualized covariance runs at 71.7 %².
By 3-year correlation, SPY places #8 of the 13 assets tracked against RRC. Twelve-month performance is nearly a tie, at +24.3% for RRC and +20.6% for SPY. Risk is not evenly split, since RRC carries 2.3 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.
RRC vs SPY: side by side
| RRC (Range Resources Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +24.3% | +20.6% |
| 5-year return | +195.2% | +82.4% |
| Volatility (ann.) | 33.0% | 14.5% |
| Beta vs S&P 500 | 0.34 | 1.00 |
| Max drawdown (3Y) | -28.0% | -18.8% |
| Market cap | $9.7B | – |
| P/E (trailing) | 11.5 | – |
| Dividend yield | 0.91% | 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 | RRC | SPY |
|---|---|---|
| 2022 | +41.1% | -18.2% |
| 2023 | +23.1% | +26.2% |
| 2024 | +19.3% | +24.9% |
| 2025 | -1.0% | +17.7% |
| 2026 | +18.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RRC and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between RRC and SPY?
The RRC/SPY correlation stands at 0.15 on a 3-year window (1 year: -0.35, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for RRC?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
What does a correlation of 0.15 mean?
On the −1 to +1 scale, 0.15 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: RRC correlations · SPY correlations
