DSGN vs SPY: Correlation
Measured on weekly returns over the past three years, Design Therapeutics, Inc. (DSGN) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSGN and SPY?
On 3 years of weekly data the DSGN/SPY correlation comes out at 0.27, weak. The link has loosened recently: the 1-year correlation (0.15) runs below the 3-year figure (0.27). The 5-year figure is 0.33, and annualized covariance runs at 282.3 %².
Out of 11 assets tracked against DSGN, SPY lands near the bottom at #7. Their recent paths diverged sharply: over the last 12 months DSGN outperformed by 167.7 percentage points (+188.3% for DSGN against +20.6% for SPY). One caveat on sizing: DSGN is 5.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
DSGN vs SPY: side by side
| DSGN (Design Therapeutics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +188.3% | +20.6% |
| 5-year return | +0.7% | +82.4% |
| Volatility (ann.) | 72.7% | 14.5% |
| Beta vs S&P 500 | 1.35 | 1.00 |
| Max drawdown (3Y) | -62.8% | -18.8% |
| Market cap | $1.0B | – |
| 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 | DSGN | SPY |
|---|---|---|
| 2022 | -52.1% | -18.2% |
| 2023 | -74.2% | +26.2% |
| 2024 | +132.8% | +24.9% |
| 2025 | +52.0% | +17.7% |
| 2026 | +62.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSGN and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DSGN and SPY?
Using weekly returns as of 2026-08-27: 0.27 over 3 years, with 0.15 over the last year and 0.33 over 5 years.
Is SPY a good diversifier for DSGN?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 mean?
On the −1 to +1 scale, 0.27 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/dsgn-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dsgn-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DSGN correlations · SPY correlations
