SBCF vs SPY: Correlation
How closely do Seacoast Banking Corporation of Florida (SBCF) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SBCF and SPY?
Across a 3-year window, the weekly returns of SBCF and SPY correlate at 0.45, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.24 versus 0.45 over 3 years. Stretching to 5 years gives 0.42, with an annualized covariance of 199.9 %².
Within SBCF's tracked universe of 30 assets, SPY comes in at #24 by 3-year correlation. Over the last 12 months SPY came out ahead by 7.9 percentage points (+12.7% against +20.6%). Note the risk asymmetry: SBCF runs 2.1 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.
SBCF vs SPY: side by side
| SBCF (Seacoast Banking Corporation of Florida) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +12.7% | +20.6% |
| 5-year return | +23.0% | +82.4% |
| Volatility (ann.) | 30.8% | 14.5% |
| Beta vs S&P 500 | 0.96 | 1.00 |
| Max drawdown (3Y) | -27.8% | -18.8% |
| Market cap | $3.3B | – |
| P/E (trailing) | 22.3 | – |
| Dividend yield | 2.18% | 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 | SBCF | SPY |
|---|---|---|
| 2022 | -10.1% | -18.2% |
| 2023 | -6.0% | +26.2% |
| 2024 | -0.5% | +24.9% |
| 2025 | +17.1% | +17.7% |
| 2026 | +10.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SBCF and SPY good diversifiers for each other?
Reasonably. At 0.45, SBCF and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SBCF and SPY?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.24 over the last year and 0.42 over 5 years.
Is SPY a good diversifier for SBCF?
Reasonably. At 0.45, SBCF and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/sbcf-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/sbcf-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SBCF correlations · SPY correlations
