SFBC vs SPY: Correlation
How closely do Sound Financial Bancorp, Inc. (SFBC) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.11, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SFBC and SPY?
Over the past 3 years, SFBC and SPY moved with a correlation of 0.11, which is weak. The link has loosened recently: the 1-year correlation (-0.06) runs below the 3-year figure (0.11). Over 5 years the correlation is 0.08, and the annualized covariance of weekly returns is 36.2 %².
By 3-year correlation, SPY places #6 of the 15 assets tracked against SFBC. The last year tells two different stories: SPY led by 20.2 percentage points, +0.4% for SFBC against +20.6% for SPY. One caveat on sizing: SFBC is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
SFBC vs SPY: side by side
| SFBC (Sound Financial Bancorp, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +0.4% | +20.6% |
| 5-year return | +19.0% | +82.4% |
| Volatility (ann.) | 22.4% | 14.5% |
| Beta vs S&P 500 | 0.17 | 1.00 |
| Max drawdown (3Y) | -24.7% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 15.2 | – |
| Dividend yield | 1.69% | 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 | SFBC | SPY |
|---|---|---|
| 2022 | -9.0% | -18.2% |
| 2023 | +1.3% | +26.2% |
| 2024 | +37.4% | +24.9% |
| 2025 | -15.8% | +17.7% |
| 2026 | +10.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SFBC and SPY good diversifiers for each other?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SFBC and SPY?
The SFBC/SPY correlation stands at 0.11 on a 3-year window (1 year: -0.06, 5 years: 0.08), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for SFBC?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.11 mean?
A reading of 0.11 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: SFBC correlations · SPY correlations
