SPY vs TBBK: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and The Bancorp, Inc. (TBBK) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and TBBK?
On 3 years of weekly data the SPY/TBBK correlation comes out at 0.38, moderate. Recent behaviour matches the longer record: 0.30 over 1 year against 0.38 over 3. The 5-year figure is 0.44, and annualized covariance runs at 225.7 %².
Among the 4755 assets we track against SPY, TBBK ranks #1395 by 3-year correlation. The last year tells two different stories: SPY led by 34.2 percentage points, +20.6% for SPY against -13.6% for TBBK. One caveat on sizing: TBBK 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 TBBK: side by side
| SPY (SPDR S&P 500 ETF Trust) | TBBK (The Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -13.6% |
| 5-year return | +82.4% | +172.1% |
| Volatility (ann.) | 14.5% | 41.2% |
| Beta vs S&P 500 | 1.00 | 1.08 |
| Max drawdown (3Y) | -18.8% | -36.3% |
| Market cap | – | $2.7B |
| P/E (trailing) | – | 12.5 |
| Dividend yield | 1.01% | 0.00% |
| 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 | TBBK |
|---|---|---|
| 2022 | -18.2% | +12.1% |
| 2023 | +26.2% | +35.9% |
| 2024 | +24.9% | +36.5% |
| 2025 | +17.7% | +28.3% |
| 2026 | +13.7% | -1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and TBBK good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and TBBK?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.30 over the last year and 0.44 over 5 years.
Is TBBK a good diversifier for SPY?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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-tbbk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-tbbk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · TBBK correlations
