DBRG vs SPY: Correlation
DigitalBridge Group, Inc. (DBRG) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DBRG and SPY?
Across a 3-year window, the weekly returns of DBRG and SPY correlate at 0.40, moderate. The past 12 months show a weaker link (0.15) than the 3-year average (0.40). Stretching to 5 years gives 0.51, with an annualized covariance of 313.6 %².
Among the 14 assets we track against DBRG, SPY ranks #6 by 3-year correlation. The last year tells two different stories: DBRG led by 19.3 percentage points, +39.9% for DBRG against +20.6% for SPY. Note the risk asymmetry: DBRG runs 3.7 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.
DBRG vs SPY: side by side
| DBRG (DigitalBridge Group, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +39.9% | +20.6% |
| 5-year return | -41.3% | +82.4% |
| Volatility (ann.) | 53.7% | 14.5% |
| Beta vs S&P 500 | 1.50 | 1.00 |
| Max drawdown (3Y) | -67.0% | -18.8% |
| Market cap | $3.0B | – |
| P/E (trailing) | 10.0 | – |
| Dividend yield | 0.25% | 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 | DBRG | SPY |
|---|---|---|
| 2022 | -67.1% | -18.2% |
| 2023 | +60.8% | +26.2% |
| 2024 | -35.5% | +24.9% |
| 2025 | +36.5% | +17.7% |
| 2026 | +4.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DBRG and SPY good diversifiers for each other?
Reasonably. At 0.40, DBRG and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DBRG and SPY?
As of 2026-08-27, the correlation of weekly returns between DBRG and SPY is 0.40 over 3 years, 0.15 over 1 year and 0.51 over 5 years.
Is SPY a good diversifier for DBRG?
Reasonably. At 0.40, DBRG and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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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Hubs: DBRG correlations · SPY correlations
