SPY vs STRR: Correlation
SPDR S&P 500 ETF Trust (SPY) and Star Equity Holdings, Inc. (STRR) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and STRR?
On 3 years of weekly data the SPY/STRR correlation comes out at 0.28, weak. Recent behaviour matches the longer record: 0.23 over 1 year against 0.28 over 3. The 5-year figure is 0.17, and annualized covariance runs at 144.4 %².
By 3-year correlation, STRR places #2481 of the 4755 assets tracked against SPY. The trailing year gives SPY the advantage: +20.6% versus +7.6%, a 13.0-point spread. One caveat on sizing: STRR is 2.4 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 STRR: side by side
| SPY (SPDR S&P 500 ETF Trust) | STRR (Star Equity Holdings, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +7.6% |
| 5-year return | +82.4% | -38.9% |
| Volatility (ann.) | 14.5% | 35.1% |
| Beta vs S&P 500 | 1.00 | 0.69 |
| Max drawdown (3Y) | -18.8% | -62.9% |
| Market cap | – | – |
| 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 |
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 | STRR |
|---|---|---|
| 2022 | -18.2% | -22.0% |
| 2023 | +26.2% | -31.6% |
| 2024 | +24.9% | -15.8% |
| 2025 | +17.7% | -13.8% |
| 2026 | +13.7% | -9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and STRR good diversifiers for each other?
Reasonably. At 0.28, SPY and STRR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and STRR?
As of 2026-08-27, the correlation of weekly returns between SPY and STRR is 0.28 over 3 years, 0.23 over 1 year and 0.17 over 5 years.
Is STRR a good diversifier for SPY?
Reasonably. At 0.28, SPY and STRR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-strr.json
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · STRR correlations
