SCI vs SPY: Correlation
Service Corporation International (SCI) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCI and SPY?
Over the past 3 years, SCI and SPY moved with a correlation of 0.29, which is weak. The link has loosened recently: the 1-year correlation (0.08) runs below the 3-year figure (0.29). Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 97.6 %².
Within SCI's tracked universe of 12 assets, SPY comes in at #7 by 3-year correlation. On 12-month performance SPY holds a 14.1-point edge, +6.5% against +20.6%. Risk is not evenly split, since SCI carries 1.6 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.
SCI vs SPY: side by side
| SCI (Service Corporation International) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +6.5% | +20.6% |
| 5-year return | +44.7% | +82.4% |
| Volatility (ann.) | 23.6% | 14.5% |
| Beta vs S&P 500 | 0.47 | 1.00 |
| Max drawdown (3Y) | -21.6% | -18.8% |
| Market cap | $11.4B | – |
| P/E (trailing) | 21.8 | – |
| Dividend yield | 1.59% | 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 | SCI | SPY |
|---|---|---|
| 2022 | -1.0% | -18.2% |
| 2023 | +0.7% | +26.2% |
| 2024 | +18.4% | +24.9% |
| 2025 | -0.7% | +17.7% |
| 2026 | +8.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCI and SPY good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SCI and SPY?
As of 2026-08-27, the correlation of weekly returns between SCI and SPY is 0.29 over 3 years, 0.08 over 1 year and 0.38 over 5 years.
Is SPY a good diversifier for SCI?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 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: SCI correlations · SPY correlations
