DCO vs SPY: Correlation
Ducommun Incorporated (DCO) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DCO and SPY?
On 3 years of weekly data the DCO/SPY correlation comes out at 0.37, moderate. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. The 5-year figure is 0.45, and annualized covariance runs at 162.1 %².
Out of 12 assets tracked against DCO, SPY lands near the bottom at #8. The last year tells two different stories: DCO led by 78.9 percentage points, +99.5% for DCO against +20.6% for SPY. Risk is not evenly split, since DCO carries 2.1 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.
DCO vs SPY: side by side
| DCO (Ducommun Incorporated) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +99.5% | +20.6% |
| 5-year return | +248.0% | +82.4% |
| Volatility (ann.) | 30.0% | 14.5% |
| Beta vs S&P 500 | 0.78 | 1.00 |
| Max drawdown (3Y) | -23.5% | -18.8% |
| Market cap | $2.8B | – |
| 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 | DCO | SPY |
|---|---|---|
| 2022 | +6.8% | -18.2% |
| 2023 | +4.2% | +26.2% |
| 2024 | +22.3% | +24.9% |
| 2025 | +49.4% | +17.7% |
| 2026 | +93.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DCO and SPY good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DCO and SPY?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.31 over the last year and 0.45 over 5 years.
Is SPY a good diversifier for DCO?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 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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Related comparisons
Hubs: DCO correlations · SPY correlations
