DUK vs SPYG: Correlation
Measured on weekly returns over the past three years, Duke Energy (DUK) and SPDR Portfolio S&P 500 Growth ETF (SPYG) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DUK and SPYG?
On 3 years of weekly data the DUK/SPYG correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.32) runs below the 3-year figure (-0.21). The 5-year figure is 0.08, and annualized covariance runs at -63.6 %².
Among the 53 assets we track against DUK, SPYG ranks #38 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPYG outperformed by 21.3 percentage points (+1.1% for DUK against +22.4% for SPYG). The relationship is regime-dependent: the rolling one-year correlation swung between -0.36 and 0.31 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.
DUK vs SPYG: side by side
| DUK (Duke Energy) | SPYG (SPDR Portfolio S&P 500 Growth ETF) | |
|---|---|---|
| 1-year return | +1.1% | +22.4% |
| 5-year return | +39.8% | +85.9% |
| Volatility (ann.) | 15.9% | 18.9% |
| Beta vs S&P 500 | -0.09 | 1.25 |
| Max drawdown (3Y) | -11.6% | -22.1% |
| Market cap | $94.2B | – |
| P/E (trailing) | 18.3 | – |
| Dividend yield | 3.49% | 0.49% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $52.2B |
| Sector / category | Utilities | ETF · US Style |
SPYG is a Large Growth fund from State Street Investment Management: $52.2B under management, 148 holdings, a 0.04% expense ratio, a 0.49% trailing dividend yield.
Year-by-year returns
| Year | DUK | SPYG |
|---|---|---|
| 2022 | +2.0% | -29.4% |
| 2023 | -1.6% | +30.0% |
| 2024 | +15.6% | +36.0% |
| 2025 | +12.7% | +22.1% |
| 2026 | +5.8% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DUK and SPYG good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between DUK and SPYG?
As of 2026-08-27, the correlation of weekly returns between DUK and SPYG is -0.21 over 3 years, -0.32 over 1 year and 0.08 over 5 years.
Is SPYG a good diversifier for DUK?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/duk-vs-spyg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/duk-vs-spyg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DUK correlations · SPYG correlations
