DIOD vs SPY: Correlation
How closely do Diodes Incorporated (DIOD) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIOD and SPY?
Over the past 3 years, DIOD and SPY moved with a correlation of 0.53, which is moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 383.6 %².
Among the 25 assets we track against DIOD, SPY ranks #18 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DIOD ahead by 41.1 points (+61.7% versus +20.6%). Risk is not evenly split, since DIOD carries 3.5 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.
DIOD vs SPY: side by side
| DIOD (Diodes Incorporated) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +61.7% | +20.6% |
| 5-year return | -7.4% | +82.4% |
| Volatility (ann.) | 50.3% | 14.5% |
| Beta vs S&P 500 | 1.84 | 1.00 |
| Max drawdown (3Y) | -60.1% | -18.8% |
| Market cap | $4.2B | – |
| P/E (trailing) | 48.6 | – |
| 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 | DIOD | SPY |
|---|---|---|
| 2022 | -30.7% | -18.2% |
| 2023 | +5.8% | +26.2% |
| 2024 | -23.4% | +24.9% |
| 2025 | -20.0% | +17.7% |
| 2026 | +84.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIOD and SPY good diversifiers for each other?
Only partially. A correlation of 0.53 means DIOD and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DIOD and SPY?
The DIOD/SPY correlation stands at 0.53 on a 3-year window (1 year: 0.50, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for DIOD?
Only partially. A correlation of 0.53 means DIOD and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
A reading of 0.53 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: DIOD correlations · SPY correlations
