DBGI vs SPY: Correlation
Measured on weekly returns over the past three years, Digital Brands Group, Inc. (DBGI) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of -0.02, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DBGI and SPY?
Over the past 3 years, DBGI and SPY moved with a correlation of -0.02, which is near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (-0.07) sits close to the 3-year figure. Over 5 years the correlation is -0.01, and the annualized covariance of weekly returns is -403.6 %².
Within DBGI's tracked universe of 28 assets, SPY comes in at #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 49.8 percentage points (-29.2% for DBGI against +20.6% for SPY). Risk is not evenly split, since DBGI carries 77.7 times the volatility of the other side.
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.
DBGI vs SPY: side by side
| DBGI (Digital Brands Group, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -29.2% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 1127.2% | 14.5% |
| Beta vs S&P 500 | -1.93 | 1.00 |
| Max drawdown (3Y) | -100.0% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| 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 | DBGI | SPY |
|---|---|---|
| 2022 | -98.2% | -18.2% |
| 2023 | -96.9% | +26.2% |
| 2024 | -98.9% | +24.9% |
| 2025 | +610.8% | +17.7% |
| 2026 | -43.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DBGI and SPY good diversifiers for each other?
By historical standards, yes. A correlation of -0.02 means the two rarely move for the same reasons.
FAQ
What is the correlation between DBGI and SPY?
Using weekly returns as of 2026-08-27: -0.02 over 3 years, with -0.07 over the last year and -0.01 over 5 years.
Is SPY a good diversifier for DBGI?
By historical standards, yes. A correlation of -0.02 means the two rarely move for the same reasons.
What does a correlation of -0.02 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.
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Hubs: DBGI correlations · SPY correlations
