APH vs SPYG: Correlation
Amphenol (APH) and SPDR Portfolio S&P 500 Growth ETF (SPYG) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APH and SPYG?
Over the past 3 years, APH and SPYG moved with a correlation of 0.69, which is strong. The past 12 months show a weaker link (0.49) than the 3-year average (0.69). Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 437.0 %².
Within APH's tracked universe of 38 assets, SPYG comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months APH outperformed by 25.1 percentage points (+47.5% for APH against +22.4% for SPYG). The rolling one-year correlation moved between 0.46 and 0.83 over the past three years, a moderate range. Note the risk asymmetry: APH runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
APH vs SPYG: side by side
| APH (Amphenol) | SPYG (SPDR Portfolio S&P 500 Growth ETF) | |
|---|---|---|
| 1-year return | +47.5% | +22.4% |
| 5-year return | +338.9% | +85.9% |
| Volatility (ann.) | 33.6% | 18.9% |
| Beta vs S&P 500 | 1.57 | 1.25 |
| Max drawdown (3Y) | -28.2% | -22.1% |
| Market cap | $199.0B | – |
| P/E (trailing) | 40.3 | – |
| Dividend yield | 0.57% | 0.49% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $52.2B |
| Sector / category | Information Technology | ETF · US Style |
SPYG is a Large Growth fund from State Street Investment Management: $52.2B under management, 148 holdings, a 0.04% expense ratio, a 0.49% trailing dividend yield.
Year-by-year returns
| Year | APH | SPYG |
|---|---|---|
| 2022 | -12.0% | -29.4% |
| 2023 | +31.5% | +30.0% |
| 2024 | +41.3% | +36.0% |
| 2025 | +96.1% | +22.1% |
| 2026 | +19.8% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
APH represents 0.56% of SPYG's portfolio, so part of any move in SPYG is APH itself, and the correlation between them is partly mechanical.
Are APH and SPYG good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between APH and SPYG?
The APH/SPYG correlation stands at 0.69 on a 3-year window (1 year: 0.49, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is SPYG a good diversifier for APH?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 mean?
On the −1 to +1 scale, 0.69 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/aph-vs-spyg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aph-vs-spyg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: APH correlations · SPYG correlations
