STLD vs. SPY
STLD (Steel Dynamics, Inc.) is a stock, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, STLD returned 27.79%/yr vs 15.07%/yr for SPY. Their 0.47 correlation means their historical movements had little consistent relationship.
Performance
STLD vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, STLD achieves a 49.08% return, which is significantly higher than SPY's 10.13% return. Over the past 10 years, STLD has outperformed SPY with an annualized return of 27.79%, while SPY has yielded a comparatively lower 15.07% annualized return.
STLD
- 1D
- -0.49%
- 1M
- 14.01%
- 6M
- 40.67%
- YTD
- 49.08%
- 1Y
- 107.78%
- 3Y*
- 34.78%
- 5Y*
- 33.27%
- 10Y*
- 27.79%
- ALL TIME*
- 16.40%
SPY
- 1D
- 0.72%
- 1M
- 0.30%
- 6M
- 8.53%
- YTD
- 10.13%
- 1Y
- 21.49%
- 3Y*
- 19.32%
- 5Y*
- 12.76%
- 10Y*
- 15.07%
- ALL TIME*
- 10.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $37.27B | $35.99B | $39.23B | |
| $317.28M | $281.08M | $296.06M |
STLD vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
STLD Steel Dynamics, Inc. | 49.08% | 50.70% | -1.99% | 22.75% | 60.14% | 71.42% | 12.46% | 16.78% | -29.02% | 23.34% |
SPY State Street SPDR S&P 500 ETF | 10.13% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between STLD and SPY is 0.38, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.38 |
Correlation (3Y) Balances recent behavior with more history. | 0.41 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.48 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 1996 | 0.47 |
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Return for Risk
STLD vs. SPY — Risk / Return Rank
STLD
SPY
STLD vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Steel Dynamics, Inc. (STLD) and State Street SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| STLD | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.33 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.27 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 4.56 | 2.20 | +2.36 |
| Martin ratioReturn relative to average drawdown | 13.00 | 9.40 | +3.60 |
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Drawdowns
STLD vs. SPY - Drawdown Comparison
The maximum STLD drawdown since its inception was -87.05%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for STLD and SPY.
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Drawdown Indicators
| STLD | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.05% | -55.19% | -31.86% |
Max Drawdown (1Y)Largest decline over 1 year | -21.88% | -8.88% | -13.00% |
Max Drawdown (3Y)Largest decline over 3 years | -28.66% | -18.76% | -9.90% |
Max Drawdown (5Y)Largest decline over 5 years | -32.20% | -24.50% | -7.70% |
Max Drawdown (10Y)Largest decline over 10 years | -68.46% | -33.72% | -34.74% |
Current DrawdownCurrent decline from peak | -10.94% | -1.40% | -9.54% |
Average DrawdownAverage peak-to-trough decline | -33.18% | -9.01% | -24.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.70% | 2.08% | +5.62% |
Volatility
STLD vs. SPY - Volatility Comparison
Steel Dynamics, Inc. (STLD) has a higher volatility of 8.59% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. This indicates that STLD's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| STLD | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.59% | 3.58% | +5.01% |
Volatility (6M)Calculated over the trailing 6-month period | 27.04% | 10.14% | +16.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.08% | 12.89% | +22.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.08% | 17.18% | +20.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.40% | 17.95% | +21.45% |
Dividends
STLD vs. SPY - Dividend Comparison
STLD's dividend yield for the trailing twelve months is around 0.82%, less than SPY's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPY State Street SPDR S&P 500 ETF | 1.01% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
STLD Steel Dynamics, Inc. | 0.82% | 1.18% | 1.61% | 1.44% | 1.39% | 1.68% | 2.71% | 2.82% | 2.50% | 1.44% | 1.57% | 3.08% |
Frequently Asked Questions
STLD and SPY have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
STLD has higher volatility (8.59%) compared to SPY (3.58%). In terms of maximum drawdown, STLD dropped -87.05% vs SPY's -55.19%.
STLD currently has the higher Sharpe Ratio (2.85 vs 1.52), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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