ASGI vs SPY: Correlation
Measured on weekly returns over the past three years, abrdn Global Infrastructure Income Fund (ASGI) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASGI and SPY?
On 3 years of weekly data the ASGI/SPY correlation comes out at 0.38, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.26 versus 0.38 over 3 years. The 5-year figure is 0.51, and annualized covariance runs at 104.5 %².
Among the 10 assets we track against ASGI, SPY sits near the bottom by co-movement, at rank #6. On 12-month performance ASGI holds a 14.8-point edge, +35.4% 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.
ASGI vs SPY: side by side
| ASGI (abrdn Global Infrastructure Income Fund) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +35.4% | +20.6% |
| 5-year return | +97.5% | +82.4% |
| Volatility (ann.) | 19.0% | 14.5% |
| Beta vs S&P 500 | 0.50 | 1.00 |
| Max drawdown (3Y) | -15.1% | -18.8% |
| Market cap | $0.8B | – |
| P/E (trailing) | 4.8 | – |
| Dividend yield | 0.00% | 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 | ASGI | SPY |
|---|---|---|
| 2022 | -10.5% | -18.2% |
| 2023 | +14.5% | +26.2% |
| 2024 | +10.3% | +24.9% |
| 2025 | +44.2% | +17.7% |
| 2026 | +20.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASGI and SPY good diversifiers for each other?
Reasonably. At 0.38, ASGI and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ASGI and SPY?
The ASGI/SPY correlation stands at 0.38 on a 3-year window (1 year: 0.26, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for ASGI?
Reasonably. At 0.38, ASGI and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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: ASGI correlations · SPY correlations
