SPY vs STRW: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Strawberry Fields REIT, Inc. (STRW) carry a correlation of 0.09, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and STRW?
Across a 3-year window, the weekly returns of SPY and STRW correlate at 0.09, near zero, meaning they move largely independently. The past 12 months show a tighter link (0.22) than the 3-year average (0.09). Stretching to 5 years gives n/a, with an annualized covariance of 39.6 %².
Among the 4755 assets we track against SPY, STRW ranks #4173 by 3-year correlation. Neither side won the trailing year by much: +20.6% against +22.4%. Risk is not evenly split, since STRW carries 2.2 times the volatility of the other side.
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 STRW: side by side
| SPY (SPDR S&P 500 ETF Trust) | STRW (Strawberry Fields REIT, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +22.4% |
| 5-year return | +82.4% | n/a |
| Volatility (ann.) | 14.5% | 32.1% |
| Beta vs S&P 500 | 1.00 | 0.19 |
| Max drawdown (3Y) | -18.8% | -26.6% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 21.1 |
| Dividend yield | 1.01% | 2.33% |
| 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 | STRW |
|---|---|---|
| 2022 | -18.2% | – |
| 2023 | +26.2% | – |
| 2024 | +24.9% | +43.9% |
| 2025 | +17.7% | +30.5% |
| 2026 | +13.7% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and STRW good diversifiers for each other?
Yes. With a correlation of 0.09, SPY and STRW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPY and STRW?
As of 2026-08-27, the correlation of weekly returns between SPY and STRW is 0.09 over 3 years, 0.22 over 1 year and n/a over 5 years.
Is STRW a good diversifier for SPY?
Yes. With a correlation of 0.09, SPY and STRW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.09 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.
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Hubs: SPY correlations · STRW correlations
