SBRA vs SPY: Correlation
How closely do Sabra Health Care REIT, Inc. (SBRA) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.13, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SBRA and SPY?
Over the past 3 years, SBRA and SPY moved with a correlation of 0.13, which is weak. Lately the two have drifted apart, with the 1-year correlation at -0.03 versus 0.13 over 3 years. Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 40.2 %².
SPY is close to the least connected end of SBRA's tracked universe, ranking #7 of 11. On 12-month performance SPY holds a 8.5-point edge, +12.1% against +20.6%.
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.
SBRA vs SPY: side by side
| SBRA (Sabra Health Care REIT, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +12.1% | +20.6% |
| 5-year return | +92.8% | +82.4% |
| Volatility (ann.) | 20.8% | 14.5% |
| Beta vs S&P 500 | 0.19 | 1.00 |
| Max drawdown (3Y) | -16.8% | -18.8% |
| Market cap | $5.3B | – |
| P/E (trailing) | 79.6 | – |
| Dividend yield | 5.71% | 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 | SBRA | SPY |
|---|---|---|
| 2022 | +0.4% | -18.2% |
| 2023 | +26.3% | +26.2% |
| 2024 | +31.2% | +24.9% |
| 2025 | +17.0% | +17.7% |
| 2026 | +14.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SBRA and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
FAQ
What is the correlation between SBRA and SPY?
Using weekly returns as of 2026-08-27: 0.13 over 3 years, with -0.03 over the last year and 0.31 over 5 years.
Is SPY a good diversifier for SBRA?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
What does a correlation of 0.13 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: SBRA correlations · SPY correlations
