AOD vs SPY: Correlation
Measured on weekly returns over the past three years, abrdn Total Dynamic Dividend Fund (AOD) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AOD and SPY?
Across a 3-year window, the weekly returns of AOD and SPY correlate at 0.76, strong. The relationship has been stable: the 1-year correlation (0.73) sits close to the 3-year figure. Stretching to 5 years gives 0.83, with an annualized covariance of 169.9 %².
Within AOD's tracked universe of 26 assets, SPY comes in at #9 by 3-year correlation. On 12-month performance AOD holds a 11.2-point edge, +31.8% against +20.6%.
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.
AOD vs SPY: side by side
| AOD (abrdn Total Dynamic Dividend Fund) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +31.8% | +20.6% |
| 5-year return | +70.1% | +82.4% |
| Volatility (ann.) | 15.4% | 14.5% |
| Beta vs S&P 500 | 0.81 | 1.00 |
| Max drawdown (3Y) | -16.7% | -18.8% |
| Market cap | $1.1B | – |
| P/E (trailing) | 4.1 | – |
| Dividend yield | 5.46% | 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 | AOD | SPY |
|---|---|---|
| 2022 | -17.1% | -18.2% |
| 2023 | +12.7% | +26.2% |
| 2024 | +16.1% | +24.9% |
| 2025 | +32.1% | +17.7% |
| 2026 | +18.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AOD and SPY good diversifiers for each other?
Only partially. A correlation of 0.76 means AOD 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 AOD and SPY?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.73 over the last year and 0.83 over 5 years.
Is SPY a good diversifier for AOD?
Only partially. A correlation of 0.76 means AOD 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 0.76 mean?
On the −1 to +1 scale, 0.76 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.
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Related comparisons
Hubs: AOD correlations · SPY correlations
