SBC vs SPY: Correlation
How closely do SBC Medical Group Holdings Incorporated (SBC) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.10, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SBC and SPY?
On 3 years of weekly data the SBC/SPY correlation comes out at 0.10, weak. The relationship has been stable: the 1-year correlation (0.02) sits close to the 3-year figure. The 5-year figure is 0.09, and annualized covariance runs at 117.4 %².
Among the 16 assets we track against SBC, SPY ranks #6 by 3-year correlation. The last year tells two different stories: SPY led by 22.3 percentage points, -1.7% for SBC against +20.6% for SPY. Risk is not evenly split, since SBC carries 5.6 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.
SBC vs SPY: side by side
| SBC (SBC Medical Group Holdings Incorporated) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -1.7% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 81.1% | 14.5% |
| Beta vs S&P 500 | 0.56 | 1.00 |
| Max drawdown (3Y) | -82.1% | -18.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 8.6 | – |
| 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 | SBC | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | +5.6% | +26.2% |
| 2024 | -48.4% | +24.9% |
| 2025 | -22.5% | +17.7% |
| 2026 | -4.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SBC and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
FAQ
What is the correlation between SBC and SPY?
Using weekly returns as of 2026-08-27: 0.10 over 3 years, with 0.02 over the last year and 0.09 over 5 years.
Is SPY a good diversifier for SBC?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
What does a correlation of 0.10 mean?
A reading of 0.10 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: SBC correlations · SPY correlations
