DFSC vs SPY: Correlation
Measured on weekly returns over the past three years, DEFSEC Technologies Inc. (DFSC) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.09, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DFSC and SPY?
Over the past 3 years, DFSC and SPY moved with a correlation of 0.09, which is near zero, meaning they move largely independently. The link has tightened recently: the 1-year correlation (0.21) runs above the 3-year figure (0.09). Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is 187.6 %².
Among the 14 assets we track against DFSC, SPY ranks #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 64.7 points (-44.1% versus +20.6%). Risk is not evenly split, since DFSC carries 10.5 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.
DFSC vs SPY: side by side
| DFSC (DEFSEC Technologies Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -44.1% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 152.6% | 14.5% |
| Beta vs S&P 500 | 0.90 | 1.00 |
| Max drawdown (3Y) | -99.9% | -18.8% |
| Market cap | – | – |
| 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 | DFSC | SPY |
|---|---|---|
| 2022 | -96.2% | -18.2% |
| 2023 | -65.1% | +26.2% |
| 2024 | -92.2% | +24.9% |
| 2025 | -88.4% | +17.7% |
| 2026 | +9.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DFSC and SPY good diversifiers for each other?
Yes. With a correlation of 0.09, DFSC and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DFSC and SPY?
As of 2026-08-27, the correlation of weekly returns between DFSC and SPY is 0.09 over 3 years, 0.21 over 1 year and -0.09 over 5 years.
Is SPY a good diversifier for DFSC?
Yes. With a correlation of 0.09, DFSC and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.09 mean?
On the −1 to +1 scale, 0.09 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.
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Related comparisons
Hubs: DFSC correlations · SPY correlations
