DSGR vs SPY: Correlation
How closely do Distribution Solutions Group, Inc. (DSGR) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.23, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSGR and SPY?
Across a 3-year window, the weekly returns of DSGR and SPY correlate at 0.23, weak. The link has loosened recently: the 1-year correlation (0.03) runs below the 3-year figure (0.23). Stretching to 5 years gives 0.21, with an annualized covariance of 149.5 %².
Among the 15 assets we track against DSGR, SPY ranks #10 by 3-year correlation. Over the last 12 months SPY came out ahead by 14.3 percentage points (+6.3% against +20.6%). One caveat on sizing: DSGR is 3.1 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.
DSGR vs SPY: side by side
| DSGR (Distribution Solutions Group, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +6.3% | +20.6% |
| 5-year return | +32.4% | +82.4% |
| Volatility (ann.) | 45.6% | 14.5% |
| Beta vs S&P 500 | 0.72 | 1.00 |
| Max drawdown (3Y) | -52.7% | -18.8% |
| Market cap | $1.6B | – |
| P/E (trailing) | 183.3 | – |
| 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 | DSGR | SPY |
|---|---|---|
| 2022 | -32.7% | -18.2% |
| 2023 | +71.2% | +26.2% |
| 2024 | +9.0% | +24.9% |
| 2025 | -20.4% | +17.7% |
| 2026 | +27.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSGR and SPY good diversifiers for each other?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DSGR and SPY?
As of 2026-08-27, the correlation of weekly returns between DSGR and SPY is 0.23 over 3 years, 0.03 over 1 year and 0.21 over 5 years.
Is SPY a good diversifier for DSGR?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.23 mean?
On the −1 to +1 scale, 0.23 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/dsgr-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dsgr-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DSGR correlations · SPY correlations
