DECK vs SPY: Correlation
How closely do Deckers Brands (DECK) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DECK and SPY?
On 3 years of weekly data the DECK/SPY correlation comes out at 0.40, moderate. The relationship has been stable: the 1-year correlation (0.32) sits close to the 3-year figure. The 5-year figure is 0.41, and annualized covariance runs at 250.7 %².
Within DECK's tracked universe of 31 assets, SPY comes in at #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 46.6 points (-26.0% versus +20.6%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.08 to 0.59. Note the risk asymmetry: DECK runs 3.0 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.
DECK vs SPY: side by side
| DECK (Deckers Brands) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -26.0% | +20.6% |
| 5-year return | +22.8% | +82.4% |
| Volatility (ann.) | 43.6% | 14.5% |
| Beta vs S&P 500 | 1.20 | 1.00 |
| Max drawdown (3Y) | -64.3% | -18.8% |
| Market cap | $11.8B | – |
| P/E (trailing) | 12.7 | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Consumer Discretionary | 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 | DECK | SPY |
|---|---|---|
| 2022 | +9.0% | -18.2% |
| 2023 | +67.5% | +26.2% |
| 2024 | +82.3% | +24.9% |
| 2025 | -49.0% | +17.7% |
| 2026 | -16.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DECK and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DECK and SPY?
The DECK/SPY correlation stands at 0.40 on a 3-year window (1 year: 0.32, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for DECK?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: DECK correlations · SPY correlations
