RYZ vs SPY: Correlation
Ryerson Holding Corporation (RYZ) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RYZ and SPY?
Over the past 3 years, RYZ and SPY moved with a correlation of 0.36, which is moderate. Little has changed lately, as the 1-year reading of 0.29 lands near the 3-year figure. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 246.8 %².
Among the 13 assets we track against RYZ, SPY sits near the bottom by co-movement, at rank #9. On 12-month performance SPY holds a 5.4-point edge, +15.2% against +20.6%. Risk is not evenly split, since RYZ carries 3.3 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.
RYZ vs SPY: side by side
| RYZ (Ryerson Holding Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +15.2% | +20.6% |
| 5-year return | +20.9% | +82.4% |
| Volatility (ann.) | 47.4% | 14.5% |
| Beta vs S&P 500 | 1.18 | 1.00 |
| Max drawdown (3Y) | -49.0% | -18.8% |
| Market cap | $1.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.98% | 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 | RYZ | SPY |
|---|---|---|
| 2022 | +18.3% | -18.2% |
| 2023 | +17.1% | +26.2% |
| 2024 | -44.9% | +24.9% |
| 2025 | +40.4% | +17.7% |
| 2026 | +2.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RYZ and SPY good diversifiers for each other?
Reasonably. At 0.36, RYZ and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between RYZ and SPY?
As of 2026-08-27, the correlation of weekly returns between RYZ and SPY is 0.36 over 3 years, 0.29 over 1 year and 0.40 over 5 years.
Is SPY a good diversifier for RYZ?
Reasonably. At 0.36, RYZ and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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: RYZ correlations · SPY correlations
