DFH vs SPY: Correlation
How closely do Dream Finders Homes, Inc. (DFH) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFH and SPY?
Across a 3-year window, the weekly returns of DFH and SPY correlate at 0.43, moderate. The past 12 months show a weaker link (0.27) than the 3-year average (0.43). Stretching to 5 years gives 0.40, with an annualized covariance of 337.9 %².
Among the 17 assets we track against DFH, SPY ranks #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 69.4 percentage points (-48.8% for DFH against +20.6% for SPY). Risk is not evenly split, since DFH carries 3.8 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.
DFH vs SPY: side by side
| DFH (Dream Finders Homes, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -48.8% | +20.6% |
| 5-year return | -30.7% | +82.4% |
| Volatility (ann.) | 54.8% | 14.5% |
| Beta vs S&P 500 | 1.62 | 1.00 |
| Max drawdown (3Y) | -71.3% | -18.8% |
| Market cap | $1.3B | – |
| P/E (trailing) | 10.4 | – |
| 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 | DFH | SPY |
|---|---|---|
| 2022 | -55.5% | -18.2% |
| 2023 | +310.3% | +26.2% |
| 2024 | -34.5% | +24.9% |
| 2025 | -26.5% | +17.7% |
| 2026 | -16.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFH and SPY good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DFH and SPY?
The DFH/SPY correlation stands at 0.43 on a 3-year window (1 year: 0.27, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for DFH?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
A reading of 0.43 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: DFH correlations · SPY correlations
