SABR vs SPY: Correlation
How closely do Sabre Corporation (SABR) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SABR and SPY?
Across a 3-year window, the weekly returns of SABR and SPY correlate at 0.42, moderate. The past 12 months show a weaker link (0.29) than the 3-year average (0.42). Stretching to 5 years gives 0.41, with an annualized covariance of 459.6 %².
Among the 11 assets we track against SABR, SPY sits near the bottom by co-movement, at rank #7. Neither side won the trailing year by much: +20.9% against +20.6%. Risk is not evenly split, since SABR carries 5.2 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.
SABR vs SPY: side by side
| SABR (Sabre Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +20.9% | +20.6% |
| 5-year return | -80.2% | +82.4% |
| Volatility (ann.) | 75.5% | 14.5% |
| Beta vs S&P 500 | 2.20 | 1.00 |
| Max drawdown (3Y) | -84.8% | -18.8% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | SABR | SPY |
|---|---|---|
| 2022 | -28.1% | -18.2% |
| 2023 | -28.8% | +26.2% |
| 2024 | -17.0% | +24.9% |
| 2025 | -62.7% | +17.7% |
| 2026 | +57.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SABR and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SABR and SPY?
The SABR/SPY correlation stands at 0.42 on a 3-year window (1 year: 0.29, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for SABR?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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: SABR correlations · SPY correlations
