SPY vs SR: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Spire Inc. (SR) carry a correlation of 0.12, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and SR?
Over the past 3 years, SPY and SR moved with a correlation of 0.12, which is weak. The link has loosened recently: the 1-year correlation (-0.10) runs below the 3-year figure (0.12). Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 34.5 %².
Within SPY's tracked universe of 4755 assets, SR comes in at #3965 by 3-year correlation. On 12-month performance SPY holds a 9.0-point edge, +20.6% against +11.6%.
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.
SPY vs SR: side by side
| SPY (SPDR S&P 500 ETF Trust) | SR (Spire Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +11.6% |
| 5-year return | +82.4% | +53.3% |
| Volatility (ann.) | 14.5% | 19.6% |
| Beta vs S&P 500 | 1.00 | 0.17 |
| Max drawdown (3Y) | -18.8% | -19.4% |
| Market cap | – | $4.9B |
| P/E (trailing) | – | 18.2 |
| Dividend yield | 1.01% | 3.90% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
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 | SPY | SR |
|---|---|---|
| 2022 | -18.2% | +9.8% |
| 2023 | +26.2% | -5.3% |
| 2024 | +24.9% | +14.1% |
| 2025 | +17.7% | +27.1% |
| 2026 | +13.7% | +1.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and SR good diversifiers for each other?
By historical standards, yes. A correlation of 0.12 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPY and SR?
Using weekly returns as of 2026-08-27: 0.12 over 3 years, with -0.10 over the last year and 0.27 over 5 years.
Is SR a good diversifier for SPY?
By historical standards, yes. A correlation of 0.12 means the two rarely move for the same reasons.
What does a correlation of 0.12 mean?
A reading of 0.12 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-sr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-sr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · SR correlations
