DOUG vs SPY: Correlation
Measured on weekly returns over the past three years, Douglas Elliman Inc. (DOUG) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.18, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOUG and SPY?
Across a 3-year window, the weekly returns of DOUG and SPY correlate at 0.18, weak. The past 12 months show a tighter link (0.34) than the 3-year average (0.18). Stretching to 5 years gives 0.30, with an annualized covariance of 198.8 %².
Among the 13 assets we track against DOUG, SPY sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 50.7 percentage points (-30.1% for DOUG against +20.6% for SPY). Note the risk asymmetry: DOUG runs 5.3 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.
DOUG vs SPY: side by side
| DOUG (Douglas Elliman Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -30.1% | +20.6% |
| 5-year return | -83.0% | +82.4% |
| Volatility (ann.) | 76.4% | 14.5% |
| Beta vs S&P 500 | 0.95 | 1.00 |
| Max drawdown (3Y) | -66.5% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 6.4 | – |
| 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 | DOUG | SPY |
|---|---|---|
| 2022 | -63.2% | -18.2% |
| 2023 | -22.6% | +26.2% |
| 2024 | -43.4% | +24.9% |
| 2025 | +41.9% | +17.7% |
| 2026 | -21.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOUG and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between DOUG and SPY?
The DOUG/SPY correlation stands at 0.18 on a 3-year window (1 year: 0.34, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for DOUG?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
What does a correlation of 0.18 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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Hubs: DOUG correlations · SPY correlations
