DPZ vs SPY: Correlation
Domino's (DPZ) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DPZ and SPY?
On 3 years of weekly data the DPZ/SPY correlation comes out at 0.35, moderate. The past 12 months show a weaker link (0.16) than the 3-year average (0.35). The 5-year figure is 0.44, and annualized covariance runs at 139.3 %².
Within DPZ's tracked universe of 31 assets, SPY comes in at #19 by 3-year correlation. The last year tells two different stories: SPY led by 45.8 percentage points, -25.2% for DPZ against +20.6% for SPY. The rolling one-year correlation moved between 0.16 and 0.59 over the past three years, a moderate range. Risk is not evenly split, since DPZ carries 1.9 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.
DPZ vs SPY: side by side
| DPZ (Domino's) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -25.2% | +20.6% |
| 5-year return | -31.2% | +82.4% |
| Volatility (ann.) | 27.8% | 14.5% |
| Beta vs S&P 500 | 0.67 | 1.00 |
| Max drawdown (3Y) | -45.1% | -18.8% |
| Market cap | $11.0B | – |
| P/E (trailing) | 19.5 | – |
| Dividend yield | 2.17% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Consumer Discretionary | 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 | DPZ | SPY |
|---|---|---|
| 2022 | -37.9% | -18.2% |
| 2023 | +20.7% | +26.2% |
| 2024 | +3.2% | +24.9% |
| 2025 | +0.9% | +17.7% |
| 2026 | -19.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DPZ and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DPZ and SPY?
As of 2026-08-27, the correlation of weekly returns between DPZ and SPY is 0.35 over 3 years, 0.16 over 1 year and 0.44 over 5 years.
Is SPY a good diversifier for DPZ?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dpz-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dpz-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DPZ correlations · SPY correlations
