DC vs SPY: Correlation
Dakota Gold Corp. (DC) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DC and SPY?
Across a 3-year window, the weekly returns of DC and SPY correlate at 0.30, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.55 versus 0.30 over 3 years. Stretching to 5 years gives 0.27, with an annualized covariance of 263.4 %².
Out of 12 assets tracked against DC, SPY lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with DC ahead by 28.7 points (+49.3% versus +20.6%). One caveat on sizing: DC is 4.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
DC vs SPY: side by side
| DC (Dakota Gold Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +49.3% | +20.6% |
| 5-year return | -9.6% | +82.4% |
| Volatility (ann.) | 61.3% | 14.5% |
| Beta vs S&P 500 | 1.26 | 1.00 |
| Max drawdown (3Y) | -41.7% | -18.8% |
| Market cap | $0.8B | – |
| 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 | DC | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | -14.1% | +26.2% |
| 2024 | -16.0% | +24.9% |
| 2025 | +158.2% | +17.7% |
| 2026 | +9.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DC and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DC and SPY?
Using weekly returns as of 2026-08-27: 0.30 over 3 years, with 0.55 over the last year and 0.27 over 5 years.
Is SPY a good diversifier for DC?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 mean?
On the −1 to +1 scale, 0.30 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/dc-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dc-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DC correlations · SPY correlations
