DDT vs SPY: Correlation
How closely do Dillard's Capital Trust I (DDT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DDT and SPY?
Across a 3-year window, the weekly returns of DDT and SPY correlate at 0.27, weak. The link has loosened recently: the 1-year correlation (0.14) runs below the 3-year figure (0.27). Stretching to 5 years gives 0.28, with an annualized covariance of 23.8 %².
Within DDT's tracked universe of 12 assets, SPY comes in at #6 by 3-year correlation. Over the last 12 months SPY came out ahead by 12.3 percentage points (+8.3% against +20.6%). Note the risk asymmetry: SPY runs 2.4 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.
DDT vs SPY: side by side
| DDT (Dillard's Capital Trust I) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +8.3% | +20.6% |
| 5-year return | +43.4% | +82.4% |
| Volatility (ann.) | 6.1% | 14.5% |
| Beta vs S&P 500 | 0.11 | 1.00 |
| Max drawdown (3Y) | -4.6% | -18.8% |
| Dividend yield | – | 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 | DDT | SPY |
|---|---|---|
| 2022 | -3.3% | -18.2% |
| 2023 | +9.8% | +26.2% |
| 2024 | +7.4% | +24.9% |
| 2025 | +9.5% | +17.7% |
| 2026 | +6.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DDT and SPY good diversifiers for each other?
Reasonably. At 0.27, DDT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DDT and SPY?
The DDT/SPY correlation stands at 0.27 on a 3-year window (1 year: 0.14, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for DDT?
Reasonably. At 0.27, DDT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.27 mean?
On the −1 to +1 scale, 0.27 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/ddt-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ddt-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DDT correlations · SPY correlations
