SPY vs STAG: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Stag Industrial, Inc. (STAG) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and STAG?
On 3 years of weekly data the SPY/STAG correlation comes out at 0.38, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.22 versus 0.38 over 3 years. The 5-year figure is 0.53, and annualized covariance runs at 115.1 %².
Within SPY's tracked universe of 4755 assets, STAG comes in at #1393 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 16.5 percentage points (+20.6% for SPY against +4.1% for STAG).
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 STAG: side by side
| SPY (SPDR S&P 500 ETF Trust) | STAG (Stag Industrial, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +4.1% |
| 5-year return | +82.4% | +6.2% |
| Volatility (ann.) | 14.5% | 20.8% |
| Beta vs S&P 500 | 1.00 | 0.55 |
| Max drawdown (3Y) | -18.8% | -24.6% |
| Market cap | – | $7.3B |
| P/E (trailing) | – | 28.5 |
| Dividend yield | 1.01% | 4.08% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
On the fund side, SPY sits in the Large Blend category at State Street Investment Management, with $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | STAG |
|---|---|---|
| 2022 | -18.2% | -29.6% |
| 2023 | +26.2% | +26.8% |
| 2024 | +24.9% | -10.3% |
| 2025 | +17.7% | +13.3% |
| 2026 | +13.7% | +3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and STAG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and STAG?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.22 over the last year and 0.53 over 5 years.
Is STAG a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
A reading of 0.38 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: SPY correlations · STAG correlations
