DGXX vs SPY: Correlation
How closely do Digi Power X Inc. - Common Subordinate Voting Shares (DGXX) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGXX and SPY?
Over the past 3 years, DGXX and SPY moved with a correlation of 0.30, which is moderate. The link has tightened recently: the 1-year correlation (0.43) runs above the 3-year figure (0.30). Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 505.9 %².
Among the 11 assets we track against DGXX, SPY sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months DGXX outperformed by 58.5 percentage points (+79.1% for DGXX against +20.6% for SPY). Note the risk asymmetry: DGXX runs 8.0 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.
DGXX vs SPY: side by side
| DGXX (Digi Power X Inc. - Common Subordinate Voting Shares) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +79.1% | +20.6% |
| 5-year return | -21.0% | +82.4% |
| Volatility (ann.) | 116.4% | 14.5% |
| Beta vs S&P 500 | 2.42 | 1.00 |
| Max drawdown (3Y) | -75.9% | -18.8% |
| Market cap | $0.4B | – |
| 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 | DGXX | SPY |
|---|---|---|
| 2022 | -92.2% | -18.2% |
| 2023 | +536.1% | +26.2% |
| 2024 | -34.5% | +24.9% |
| 2025 | +70.0% | +17.7% |
| 2026 | +58.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGXX and SPY good diversifiers for each other?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DGXX and SPY?
As of 2026-08-27, the correlation of weekly returns between DGXX and SPY is 0.30 over 3 years, 0.43 over 1 year and 0.39 over 5 years.
Is SPY a good diversifier for DGXX?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.30 mean?
A reading of 0.30 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dgxx-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dgxx-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DGXX correlations · SPY correlations
