SMBC vs SPY: Correlation
Southern Missouri Bancorp, Inc. (SMBC) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMBC and SPY?
Over the past 3 years, SMBC and SPY moved with a correlation of 0.40, which is moderate. The link has loosened recently: the 1-year correlation (0.07) runs below the 3-year figure (0.40). Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 170.1 %².
SPY is close to the least connected end of SMBC's tracked universe, ranking #12 of 16. Over the last 12 months SMBC came out ahead by 10.1 percentage points (+30.7% against +20.6%). Note the risk asymmetry: SMBC runs 2.0 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.
SMBC vs SPY: side by side
| SMBC (Southern Missouri Bancorp, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +30.7% | +20.6% |
| 5-year return | +79.4% | +82.4% |
| Volatility (ann.) | 29.4% | 14.5% |
| Beta vs S&P 500 | 0.81 | 1.00 |
| Max drawdown (3Y) | -29.2% | -18.8% |
| Market cap | $0.8B | – |
| P/E (trailing) | 11.6 | – |
| Dividend yield | 1.32% | 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 | SMBC | SPY |
|---|---|---|
| 2022 | -10.7% | -18.2% |
| 2023 | +18.9% | +26.2% |
| 2024 | +9.4% | +24.9% |
| 2025 | +4.8% | +17.7% |
| 2026 | +27.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMBC and SPY good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SMBC and SPY?
As of 2026-08-27, the correlation of weekly returns between SMBC and SPY is 0.40 over 3 years, 0.07 over 1 year and 0.38 over 5 years.
Is SPY a good diversifier for SMBC?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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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Related comparisons
Hubs: SMBC correlations · SPY correlations
