DTE vs SPY: Correlation
How closely do DTE Energy (DTE) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.06, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DTE and SPY?
On 3 years of weekly data the DTE/SPY correlation comes out at 0.06, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.19) runs below the 3-year figure (0.06). The 5-year figure is 0.29, and annualized covariance runs at 15.3 %².
By 3-year correlation, SPY places #33 of the 44 assets tracked against DTE. Correlation aside, the last 12 months split them widely, with SPY ahead by 18.9 points (+1.7% versus +20.6%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.23 and 0.47 over the past three years, so this pair behaves very differently depending on the market environment.
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.
DTE vs SPY: side by side
| DTE (DTE Energy) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +1.7% | +20.6% |
| 5-year return | +33.3% | +82.4% |
| Volatility (ann.) | 17.1% | 14.5% |
| Beta vs S&P 500 | 0.07 | 1.00 |
| Max drawdown (3Y) | -12.4% | -18.8% |
| Market cap | $28.3B | – |
| P/E (trailing) | 21.8 | – |
| Dividend yield | 3.39% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Utilities | 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 | DTE | SPY |
|---|---|---|
| 2022 | +1.2% | -18.2% |
| 2023 | -2.8% | +26.2% |
| 2024 | +13.5% | +24.9% |
| 2025 | +10.4% | +17.7% |
| 2026 | +7.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DTE and SPY good diversifiers for each other?
Yes: at 0.06, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DTE and SPY?
The DTE/SPY correlation stands at 0.06 on a 3-year window (1 year: -0.19, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for DTE?
Yes: at 0.06, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.06 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: DTE correlations · SPY correlations
