SPY vs SRCE: Correlation
SPDR S&P 500 ETF Trust (SPY) and 1st Source Corporation (SRCE) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and SRCE?
On 3 years of weekly data the SPY/SRCE correlation comes out at 0.35, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.03 versus 0.35 over 3 years. The 5-year figure is 0.38, and annualized covariance runs at 127.5 %².
Among the 4755 assets we track against SPY, SRCE ranks #1704 by 3-year correlation. The last year tells two different stories: SRCE led by 16.4 percentage points, +20.6% for SPY against +37.0% for SRCE. One caveat on sizing: SRCE is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 SRCE: side by side
| SPY (SPDR S&P 500 ETF Trust) | SRCE (1st Source Corporation) | |
|---|---|---|
| 1-year return | +20.6% | +37.0% |
| 5-year return | +82.4% | +110.2% |
| Volatility (ann.) | 14.5% | 25.5% |
| Beta vs S&P 500 | 1.00 | 0.61 |
| Max drawdown (3Y) | -18.8% | -21.2% |
| Market cap | – | $2.1B |
| P/E (trailing) | – | 12.4 |
| Dividend yield | 1.01% | 0.93% |
| 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 | SRCE |
|---|---|---|
| 2022 | -18.2% | +9.8% |
| 2023 | +26.2% | +6.5% |
| 2024 | +24.9% | +9.0% |
| 2025 | +17.7% | +9.8% |
| 2026 | +13.7% | +40.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and SRCE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and SRCE?
As of 2026-08-27, the correlation of weekly returns between SPY and SRCE is 0.35 over 3 years, 0.03 over 1 year and 0.38 over 5 years.
Is SRCE a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 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-srce.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-srce/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · SRCE correlations
