DXC vs SPY: Correlation
DXC Technology Company (DXC) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DXC and SPY?
Over the past 3 years, DXC and SPY moved with a correlation of 0.36, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.23 versus 0.36 over 3 years. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 202.4 %².
SPY is close to the least connected end of DXC's tracked universe, ranking #12 of 16. Correlation aside, the last 12 months split them widely, with SPY ahead by 43.7 points (-23.1% versus +20.6%). One caveat on sizing: DXC is 2.7 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.
DXC vs SPY: side by side
| DXC (DXC Technology Company) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -23.1% | +20.6% |
| 5-year return | -69.7% | +82.4% |
| Volatility (ann.) | 39.0% | 14.5% |
| Beta vs S&P 500 | 0.97 | 1.00 |
| Max drawdown (3Y) | -67.2% | -18.8% |
| Market cap | $1.8B | – |
| P/E (trailing) | 14.3 | – |
| 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 | DXC | SPY |
|---|---|---|
| 2022 | -17.7% | -18.2% |
| 2023 | -13.7% | +26.2% |
| 2024 | -12.6% | +24.9% |
| 2025 | -26.7% | +17.7% |
| 2026 | -24.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DXC and SPY good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DXC and SPY?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.23 over the last year and 0.44 over 5 years.
Is SPY a good diversifier for DXC?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
A reading of 0.36 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: DXC correlations · SPY correlations
