SFNC vs SPY: Correlation
Measured on weekly returns over the past three years, Simmons First National Corporation (SFNC) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SFNC and SPY?
On 3 years of weekly data the SFNC/SPY correlation comes out at 0.44, moderate. The past 12 months show a weaker link (0.22) than the 3-year average (0.44). The 5-year figure is 0.44, and annualized covariance runs at 184.4 %².
Among the 19 assets we track against SFNC, SPY ranks #14 by 3-year correlation. Over the last 12 months SPY came out ahead by 7.1 percentage points (+13.5% against +20.6%). One caveat on sizing: SFNC is 2.0 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.
SFNC vs SPY: side by side
| SFNC (Simmons First National Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +13.5% | +20.6% |
| 5-year return | -3.8% | +82.4% |
| Volatility (ann.) | 28.9% | 14.5% |
| Beta vs S&P 500 | 0.88 | 1.00 |
| Max drawdown (3Y) | -30.5% | -18.8% |
| Market cap | $3.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 3.75% | 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 | SFNC | SPY |
|---|---|---|
| 2022 | -24.6% | -18.2% |
| 2023 | -4.0% | +26.2% |
| 2024 | +16.7% | +24.9% |
| 2025 | -11.3% | +17.7% |
| 2026 | +22.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SFNC and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SFNC and SPY?
As of 2026-08-27, the correlation of weekly returns between SFNC and SPY is 0.44 over 3 years, 0.22 over 1 year and 0.44 over 5 years.
Is SPY a good diversifier for SFNC?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/sfnc-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/sfnc-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SFNC correlations · SPY correlations
