SAMG vs SPY: Correlation
Measured on weekly returns over the past three years, Silvercrest Asset Management Group Inc. (SAMG) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SAMG and SPY?
Across a 3-year window, the weekly returns of SAMG and SPY correlate at 0.39, moderate. The past 12 months show a weaker link (0.20) than the 3-year average (0.39). Stretching to 5 years gives 0.47, with an annualized covariance of 156.0 %².
Out of 13 assets tracked against SAMG, SPY lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 56.2 percentage points (-35.6% for SAMG against +20.6% for SPY). One caveat on sizing: SAMG is 1.9 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.
SAMG vs SPY: side by side
| SAMG (Silvercrest Asset Management Group Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -35.6% | +20.6% |
| 5-year return | -20.3% | +82.4% |
| Volatility (ann.) | 27.4% | 14.5% |
| Beta vs S&P 500 | 0.75 | 1.00 |
| Max drawdown (3Y) | -44.1% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 72.3 | – |
| Dividend yield | 4.21% | 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 | SAMG | SPY |
|---|---|---|
| 2022 | +13.6% | -18.2% |
| 2023 | -5.7% | +26.2% |
| 2024 | +13.3% | +24.9% |
| 2025 | -13.0% | +17.7% |
| 2026 | -31.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SAMG and SPY good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SAMG and SPY?
As of 2026-08-27, the correlation of weekly returns between SAMG and SPY is 0.39 over 3 years, 0.20 over 1 year and 0.47 over 5 years.
Is SPY a good diversifier for SAMG?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 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: SAMG correlations · SPY correlations
