AGD vs SPY: Correlation
abrdn Global Dynamic Dividend Fund (AGD) and SPDR S&P 500 ETF Trust (SPY) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGD and SPY?
On 3 years of weekly data the AGD/SPY correlation comes out at 0.60, strong. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. The 5-year figure is 0.69, and annualized covariance runs at 184.6 %².
By 3-year correlation, SPY places #6 of the 15 assets tracked against AGD. Twelve-month performance is nearly a tie, at +19.7% for AGD and +20.6% for SPY.
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.
AGD vs SPY: side by side
| AGD (abrdn Global Dynamic Dividend Fund) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +19.7% | +20.6% |
| 5-year return | +65.7% | +82.4% |
| Volatility (ann.) | 21.4% | 14.5% |
| Beta vs S&P 500 | 0.88 | 1.00 |
| Max drawdown (3Y) | -20.3% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 4.2 | – |
| Dividend yield | 5.26% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
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 | AGD | SPY |
|---|---|---|
| 2022 | -15.3% | -18.2% |
| 2023 | +7.4% | +26.2% |
| 2024 | +16.4% | +24.9% |
| 2025 | +34.3% | +17.7% |
| 2026 | +16.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGD and SPY good diversifiers for each other?
Only partially. A correlation of 0.60 means AGD and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AGD and SPY?
The AGD/SPY correlation stands at 0.60 on a 3-year window (1 year: 0.61, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for AGD?
Only partially. A correlation of 0.60 means AGD and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 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/agd-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/agd-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AGD correlations · SPY correlations
