SCSC vs SPY: Correlation
ScanSource, Inc. (SCSC) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCSC and SPY?
On 3 years of weekly data the SCSC/SPY correlation comes out at 0.49, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.37 versus 0.49 over 3 years. The 5-year figure is 0.52, and annualized covariance runs at 253.7 %².
Among the 20 assets we track against SCSC, SPY ranks #10 by 3-year correlation. The trailing year gives SCSC the advantage: +30.0% versus +20.6%, a 9.4-point spread. Risk is not evenly split, since SCSC carries 2.4 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.
SCSC vs SPY: side by side
| SCSC (ScanSource, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +30.0% | +20.6% |
| 5-year return | +60.7% | +82.4% |
| Volatility (ann.) | 35.5% | 14.5% |
| Beta vs S&P 500 | 1.21 | 1.00 |
| Max drawdown (3Y) | -44.2% | -18.8% |
| Market cap | $1.2B | – |
| P/E (trailing) | 15.5 | – |
| 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 | SCSC | SPY |
|---|---|---|
| 2022 | -16.7% | -18.2% |
| 2023 | +35.6% | +26.2% |
| 2024 | +19.8% | +24.9% |
| 2025 | -17.7% | +17.7% |
| 2026 | +48.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCSC and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SCSC and SPY?
As of 2026-08-27, the correlation of weekly returns between SCSC and SPY is 0.49 over 3 years, 0.37 over 1 year and 0.52 over 5 years.
Is SPY a good diversifier for SCSC?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 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: SCSC correlations · SPY correlations
