SPY vs SUNS: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Sunrise Realty Trust, Inc. (SUNS) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and SUNS?
Over the past 3 years, SPY and SUNS moved with a correlation of 0.33, which is moderate. Little has changed lately, as the 1-year reading of 0.35 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 207.3 %².
Among the 4755 assets we track against SPY, SUNS ranks #1907 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 43.7 points (+20.6% versus -23.1%). One caveat on sizing: SUNS is 2.8 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 SUNS: side by side
| SPY (SPDR S&P 500 ETF Trust) | SUNS (Sunrise Realty Trust, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -23.1% |
| 5-year return | +82.4% | n/a |
| Volatility (ann.) | 14.5% | 40.6% |
| Beta vs S&P 500 | 1.00 | 0.99 |
| Max drawdown (3Y) | -18.8% | -44.3% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 7.9 |
| Dividend yield | 1.01% | 15.89% |
| 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 | SUNS |
|---|---|---|
| 2022 | -18.2% | – |
| 2023 | +26.2% | – |
| 2024 | +24.9% | – |
| 2025 | +17.7% | -25.0% |
| 2026 | +13.7% | -13.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and SUNS good diversifiers for each other?
Reasonably. At 0.33, SPY and SUNS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and SUNS?
As of 2026-08-27, the correlation of weekly returns between SPY and SUNS is 0.33 over 3 years, 0.35 over 1 year and n/a over 5 years.
Is SUNS a good diversifier for SPY?
Reasonably. At 0.33, SPY and SUNS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 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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Related comparisons
Hubs: SPY correlations · SUNS correlations
