SPY vs SRBK: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and SR Bancorp, Inc. (SRBK) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and SRBK?
On 3 years of weekly data the SPY/SRBK correlation comes out at 0.30, moderate. The link has loosened recently: the 1-year correlation (0.16) runs below the 3-year figure (0.30). The 5-year figure is n/a, and annualized covariance runs at 75.5 %².
Among the 4755 assets we track against SPY, SRBK ranks #2241 by 3-year correlation. Over the last 12 months SRBK came out ahead by 9.7 percentage points (+20.6% against +30.3%).
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 SRBK: side by side
| SPY (SPDR S&P 500 ETF Trust) | SRBK (SR Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +30.3% |
| 5-year return | +82.4% | n/a |
| Volatility (ann.) | 14.5% | 17.4% |
| Beta vs S&P 500 | 1.00 | 0.36 |
| Max drawdown (3Y) | -18.8% | -13.5% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 44.3 |
| Dividend yield | 1.01% | 1.08% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
SPY, State Street Investment Management's Large Blend fund, carries $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | SRBK |
|---|---|---|
| 2022 | -18.2% | – |
| 2023 | +26.2% | – |
| 2024 | +24.9% | +24.6% |
| 2025 | +17.7% | +34.1% |
| 2026 | +13.7% | +24.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and SRBK good diversifiers for each other?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and SRBK?
Using weekly returns as of 2026-08-27: 0.30 over 3 years, with 0.16 over the last year and n/a over 5 years.
Is SRBK a good diversifier for SPY?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.30 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/spy-vs-srbk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-srbk/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPY correlations · SRBK correlations
