SPY vs STBA: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and S&T Bancorp, Inc. (STBA) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and STBA?
Across a 3-year window, the weekly returns of SPY and STBA correlate at 0.34, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.02 versus 0.34 over 3 years. Stretching to 5 years gives 0.37, with an annualized covariance of 142.2 %².
By 3-year correlation, STBA places #1806 of the 4755 assets tracked against SPY. The trailing year gives STBA the advantage: +20.6% versus +29.0%, a 8.4-point spread. Note the risk asymmetry: STBA runs 2.0 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 STBA: side by side
| SPY (SPDR S&P 500 ETF Trust) | STBA (S&T Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +29.0% |
| 5-year return | +82.4% | +102.2% |
| Volatility (ann.) | 14.5% | 28.7% |
| Beta vs S&P 500 | 1.00 | 0.68 |
| Max drawdown (3Y) | -18.8% | -26.1% |
| Market cap | – | $1.8B |
| P/E (trailing) | – | 13.3 |
| Dividend yield | 1.01% | 1.44% |
| 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 | STBA |
|---|---|---|
| 2022 | -18.2% | +12.6% |
| 2023 | +26.2% | +2.1% |
| 2024 | +24.9% | +18.7% |
| 2025 | +17.7% | +6.7% |
| 2026 | +13.7% | +29.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and STBA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPY and STBA?
The SPY/STBA correlation stands at 0.34 on a 3-year window (1 year: 0.02, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is STBA a good diversifier for SPY?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 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 · STBA correlations
