SPY vs SRI: Correlation
SPDR S&P 500 ETF Trust (SPY) and Stoneridge, Inc. (SRI) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and SRI?
Across a 3-year window, the weekly returns of SPY and SRI correlate at 0.43, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.43 over 3. Stretching to 5 years gives 0.38, with an annualized covariance of 374.8 %².
Within SPY's tracked universe of 4755 assets, SRI comes in at #910 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 38.0 percentage points (+20.6% for SPY against -17.4% for SRI). Note the risk asymmetry: SRI runs 4.1 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.
SPY vs SRI: side by side
| SPY (SPDR S&P 500 ETF Trust) | SRI (Stoneridge, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -17.4% |
| 5-year return | +82.4% | -69.5% |
| Volatility (ann.) | 14.5% | 59.7% |
| Beta vs S&P 500 | 1.00 | 1.79 |
| Max drawdown (3Y) | -18.8% | -82.9% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 1.01% | 0.00% |
| 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 | SRI |
|---|---|---|
| 2022 | -18.2% | +9.2% |
| 2023 | +26.2% | -9.2% |
| 2024 | +24.9% | -68.0% |
| 2025 | +17.7% | -7.7% |
| 2026 | +13.7% | +22.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and SRI good diversifiers for each other?
Reasonably. At 0.43, SPY and SRI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and SRI?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.51 over the last year and 0.38 over 5 years.
Is SRI a good diversifier for SPY?
Reasonably. At 0.43, SPY and SRI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 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-sri.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-sri/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · SRI correlations
