SPY vs SXC: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and SunCoke Energy, Inc. (SXC) trade together? Their weekly returns over three years give a correlation of 0.26, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and SXC?
Across a 3-year window, the weekly returns of SPY and SXC correlate at 0.26, weak. The link has loosened recently: the 1-year correlation (0.02) runs below the 3-year figure (0.26). Stretching to 5 years gives 0.28, with an annualized covariance of 153.6 %².
Among the 4755 assets we track against SPY, SXC ranks #2673 by 3-year correlation. The last year tells two different stories: SXC led by 25.3 percentage points, +20.6% for SPY against +45.9% for SXC. One caveat on sizing: SXC 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 SXC: side by side
| SPY (SPDR S&P 500 ETF Trust) | SXC (SunCoke Energy, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +45.9% |
| 5-year return | +82.4% | +84.8% |
| Volatility (ann.) | 14.5% | 40.5% |
| Beta vs S&P 500 | 1.00 | 0.74 |
| Max drawdown (3Y) | -18.8% | -52.0% |
| Market cap | – | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 1.01% | 4.89% |
| 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 | SXC |
|---|---|---|
| 2022 | -18.2% | +35.9% |
| 2023 | +26.2% | +29.8% |
| 2024 | +24.9% | +4.0% |
| 2025 | +17.7% | -28.6% |
| 2026 | +13.7% | +49.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and SXC good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and SXC?
As of 2026-08-27, the correlation of weekly returns between SPY and SXC is 0.26 over 3 years, 0.02 over 1 year and 0.28 over 5 years.
Is SXC a good diversifier for SPY?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-sxc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-sxc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · SXC correlations
