SPY vs USCB: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and USCB Financial Holdings, Inc. (USCB) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and USCB?
Over the past 3 years, SPY and USCB moved with a correlation of 0.36, which is moderate. The past 12 months show a weaker link (0.03) than the 3-year average (0.36). Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 176.0 %².
By 3-year correlation, USCB places #1597 of the 4755 assets tracked against SPY. On 12-month performance USCB holds a 11.1-point edge, +20.6% against +31.7%. Risk is not evenly split, since USCB carries 2.3 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 USCB: side by side
| SPY (SPDR S&P 500 ETF Trust) | USCB (USCB Financial Holdings, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +31.7% |
| 5-year return | +82.4% | +84.4% |
| Volatility (ann.) | 14.5% | 33.8% |
| Beta vs S&P 500 | 1.00 | 0.84 |
| Max drawdown (3Y) | -18.8% | -23.2% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | 14.3 |
| Dividend yield | 1.01% | 2.02% |
| 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 | USCB |
|---|---|---|
| 2022 | -18.2% | -12.9% |
| 2023 | +26.2% | +0.4% |
| 2024 | +24.9% | +47.0% |
| 2025 | +17.7% | +6.1% |
| 2026 | +13.7% | +23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and USCB good diversifiers for each other?
Reasonably. At 0.36, SPY and USCB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and USCB?
As of 2026-08-27, the correlation of weekly returns between SPY and USCB is 0.36 over 3 years, 0.03 over 1 year and 0.28 over 5 years.
Is USCB a good diversifier for SPY?
Reasonably. At 0.36, SPY and USCB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-uscb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-uscb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · USCB correlations
