DSGX vs SPY: Correlation
How closely do The Descartes Systems Group Inc. (DSGX) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSGX and SPY?
Over the past 3 years, DSGX and SPY moved with a correlation of 0.40, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.19 versus 0.40 over 3 years. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 180.7 %².
By 3-year correlation, SPY places #20 of the 26 assets tracked against DSGX. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 39.7 percentage points (-19.1% for DSGX against +20.6% for SPY). One caveat on sizing: DSGX is 2.2 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.
DSGX vs SPY: side by side
| DSGX (The Descartes Systems Group Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -19.1% | +20.6% |
| 5-year return | +3.6% | +82.4% |
| Volatility (ann.) | 31.5% | 14.5% |
| Beta vs S&P 500 | 0.86 | 1.00 |
| Max drawdown (3Y) | -48.7% | -18.8% |
| Market cap | $6.9B | – |
| P/E (trailing) | 38.6 | – |
| 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 | DSGX | SPY |
|---|---|---|
| 2022 | -15.8% | -18.2% |
| 2023 | +20.7% | +26.2% |
| 2024 | +35.1% | +24.9% |
| 2025 | -22.8% | +17.7% |
| 2026 | -8.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSGX and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DSGX and SPY?
As of 2026-08-27, the correlation of weekly returns between DSGX and SPY is 0.40 over 3 years, 0.19 over 1 year and 0.47 over 5 years.
Is SPY a good diversifier for DSGX?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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.
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Hubs: DSGX correlations · SPY correlations
