RUSHA vs SPY: Correlation
Rush Enterprises, Inc. (RUSHA) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RUSHA and SPY?
Across a 3-year window, the weekly returns of RUSHA and SPY correlate at 0.43, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.17 versus 0.43 over 3 years. Stretching to 5 years gives 0.46, with an annualized covariance of 193.3 %².
Among the 13 assets we track against RUSHA, SPY ranks #8 by 3-year correlation. Over the last 12 months RUSHA came out ahead by 11.2 percentage points (+31.8% against +20.6%). Note the risk asymmetry: RUSHA runs 2.2 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.
RUSHA vs SPY: side by side
| RUSHA (Rush Enterprises, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +31.8% | +20.6% |
| 5-year return | +177.5% | +82.4% |
| Volatility (ann.) | 31.3% | 14.5% |
| Beta vs S&P 500 | 0.93 | 1.00 |
| Max drawdown (3Y) | -26.8% | -18.8% |
| Market cap | $8.3B | – |
| P/E (trailing) | 23.2 | – |
| Dividend yield | 0.99% | 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 | RUSHA | SPY |
|---|---|---|
| 2022 | -4.5% | -18.2% |
| 2023 | +46.7% | +26.2% |
| 2024 | +10.4% | +24.9% |
| 2025 | -0.2% | +17.7% |
| 2026 | +42.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RUSHA and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between RUSHA and SPY?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.17 over the last year and 0.46 over 5 years.
Is SPY a good diversifier for RUSHA?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 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: RUSHA correlations · SPY correlations
