SLSR vs SPY: Correlation
Measured on weekly returns over the past three years, Solaris Resources Inc. (SLSR) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SLSR and SPY?
Over the past 3 years, SLSR and SPY moved with a correlation of 0.32, which is moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.32 over 3. Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 292.5 %².
Out of 10 assets tracked against SLSR, SPY lands near the bottom at #6. Their recent paths diverged sharply: over the last 12 months SLSR outperformed by 39.1 percentage points (+59.7% for SLSR against +20.6% for SPY). Note the risk asymmetry: SLSR runs 4.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
SLSR vs SPY: side by side
| SLSR (Solaris Resources Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +59.7% | +20.6% |
| 5-year return | -4.4% | +82.4% |
| Volatility (ann.) | 63.0% | 14.5% |
| Beta vs S&P 500 | 1.40 | 1.00 |
| Max drawdown (3Y) | -56.9% | -18.8% |
| Market cap | $1.5B | – |
| 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 | SLSR | SPY |
|---|---|---|
| 2022 | -65.7% | -18.2% |
| 2023 | -33.7% | +26.2% |
| 2024 | +1.8% | +24.9% |
| 2025 | +156.7% | +17.7% |
| 2026 | +11.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SLSR and SPY good diversifiers for each other?
Reasonably. At 0.32, SLSR and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SLSR and SPY?
The SLSR/SPY correlation stands at 0.32 on a 3-year window (1 year: 0.36, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for SLSR?
Reasonably. At 0.32, SLSR and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.32 mean?
On the −1 to +1 scale, 0.32 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Hubs: SLSR correlations · SPY correlations
