DT vs SPY: Correlation
Dynatrace, Inc. (DT) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DT and SPY?
On 3 years of weekly data the DT/SPY correlation comes out at 0.43, moderate. The past 12 months show a weaker link (0.24) than the 3-year average (0.43). The 5-year figure is 0.53, and annualized covariance runs at 213.7 %².
Within DT's tracked universe of 26 assets, SPY comes in at #21 by 3-year correlation. On 12-month performance SPY holds a 14.0-point edge, +6.6% against +20.6%. Risk is not evenly split, since DT carries 2.4 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.
DT vs SPY: side by side
| DT (Dynatrace, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +6.6% | +20.6% |
| 5-year return | -21.5% | +82.4% |
| Volatility (ann.) | 34.3% | 14.5% |
| Beta vs S&P 500 | 1.02 | 1.00 |
| Max drawdown (3Y) | -48.2% | -18.8% |
| Market cap | $15.5B | – |
| P/E (trailing) | 102.8 | – |
| 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 | DT | SPY |
|---|---|---|
| 2022 | -36.5% | -18.2% |
| 2023 | +42.8% | +26.2% |
| 2024 | -0.6% | +24.9% |
| 2025 | -20.3% | +17.7% |
| 2026 | +23.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DT and SPY good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DT and SPY?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.24 over the last year and 0.53 over 5 years.
Is SPY a good diversifier for DT?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
A reading of 0.43 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: DT correlations · SPY correlations
