SLNG vs SPY: Correlation
How closely do Stabilis Solutions, Inc. (SLNG) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.08, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SLNG and SPY?
Across a 3-year window, the weekly returns of SLNG and SPY correlate at 0.08, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.10) than the 3-year average (0.08). Stretching to 5 years gives 0.04, with an annualized covariance of 81.6 %².
Within SLNG's tracked universe of 12 assets, SPY comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SLNG outperformed by 22.9 percentage points (+43.5% for SLNG against +20.6% for SPY). Risk is not evenly split, since SLNG carries 4.8 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.
SLNG vs SPY: side by side
| SLNG (Stabilis Solutions, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +43.5% | +20.6% |
| 5-year return | -16.1% | +82.4% |
| Volatility (ann.) | 69.9% | 14.5% |
| Beta vs S&P 500 | 0.39 | 1.00 |
| Max drawdown (3Y) | -58.7% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| 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 | SLNG | SPY |
|---|---|---|
| 2022 | +25.8% | -18.2% |
| 2023 | -22.0% | +26.2% |
| 2024 | +28.9% | +24.9% |
| 2025 | -15.0% | +17.7% |
| 2026 | +28.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SLNG and SPY good diversifiers for each other?
Yes: at 0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SLNG and SPY?
As of 2026-08-27, the correlation of weekly returns between SLNG and SPY is 0.08 over 3 years, -0.10 over 1 year and 0.04 over 5 years.
Is SPY a good diversifier for SLNG?
Yes: at 0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.08 mean?
A reading of 0.08 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: SLNG correlations · SPY correlations
