SCD vs SPY: Correlation
Measured on weekly returns over the past three years, LMP Capital and Income Fund Inc. (SCD) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCD and SPY?
On 3 years of weekly data the SCD/SPY correlation comes out at 0.67, strong. The link has loosened recently: the 1-year correlation (0.49) runs below the 3-year figure (0.67). The 5-year figure is 0.76, and annualized covariance runs at 169.6 %².
Among the 12 assets we track against SCD, SPY ranks #6 by 3-year correlation. Over the last 12 months SPY came out ahead by 9.7 percentage points (+10.9% 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.
SCD vs SPY: side by side
| SCD (LMP Capital and Income Fund Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +10.9% | +20.6% |
| 5-year return | +68.6% | +82.4% |
| Volatility (ann.) | 17.4% | 14.5% |
| Beta vs S&P 500 | 0.81 | 1.00 |
| Max drawdown (3Y) | -21.8% | -18.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 5.1 | – |
| Dividend yield | 9.25% | 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 | SCD | SPY |
|---|---|---|
| 2022 | -14.0% | -18.2% |
| 2023 | +27.9% | +26.2% |
| 2024 | +33.7% | +24.9% |
| 2025 | -5.7% | +17.7% |
| 2026 | +12.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCD and SPY good diversifiers for each other?
Only partially. A correlation of 0.67 means SCD and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between SCD and SPY?
The SCD/SPY correlation stands at 0.67 on a 3-year window (1 year: 0.49, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for SCD?
Only partially. A correlation of 0.67 means SCD and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
A reading of 0.67 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/scd-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/scd-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SCD correlations · SPY correlations
