DLB vs SPY: Correlation
Measured on weekly returns over the past three years, Dolby Laboratories (DLB) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLB and SPY?
Across a 3-year window, the weekly returns of DLB and SPY correlate at 0.43, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.23 versus 0.43 over 3 years. Stretching to 5 years gives 0.49, with an annualized covariance of 162.1 %².
Within DLB's tracked universe of 12 assets, SPY comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 32.9 points (-12.3% versus +20.6%). Risk is not evenly split, since DLB carries 1.8 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.
DLB vs SPY: side by side
| DLB (Dolby Laboratories) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -12.3% | +20.6% |
| 5-year return | -31.8% | +82.4% |
| Volatility (ann.) | 26.0% | 14.5% |
| Beta vs S&P 500 | 0.78 | 1.00 |
| Max drawdown (3Y) | -43.2% | -18.8% |
| Market cap | $5.8B | – |
| P/E (trailing) | 27.6 | – |
| Dividend yield | 2.22% | 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 | DLB | SPY |
|---|---|---|
| 2022 | -24.9% | -18.2% |
| 2023 | +23.8% | +26.2% |
| 2024 | -7.9% | +24.9% |
| 2025 | -16.3% | +17.7% |
| 2026 | -1.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLB 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 DLB and SPY?
The DLB/SPY correlation stands at 0.43 on a 3-year window (1 year: 0.23, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for DLB?
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?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: DLB correlations · SPY correlations
