DXLG vs SPY: Correlation
How closely do Destination XL Group, Inc. (DXLG) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DXLG and SPY?
Across a 3-year window, the weekly returns of DXLG and SPY correlate at 0.31, moderate. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. Stretching to 5 years gives 0.33, with an annualized covariance of 273.2 %².
Out of 10 assets tracked against DXLG, SPY lands near the bottom at #6. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 73.2 percentage points (-52.6% for DXLG against +20.6% for SPY). One caveat on sizing: DXLG is 4.2 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.
DXLG vs SPY: side by side
| DXLG (Destination XL Group, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -52.6% | +20.6% |
| 5-year return | -88.2% | +82.4% |
| Volatility (ann.) | 60.4% | 14.5% |
| Beta vs S&P 500 | 1.31 | 1.00 |
| Max drawdown (3Y) | -90.8% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| 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 | DXLG | SPY |
|---|---|---|
| 2022 | +18.8% | -18.2% |
| 2023 | -34.8% | +26.2% |
| 2024 | -38.9% | +24.9% |
| 2025 | -65.8% | +17.7% |
| 2026 | -32.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DXLG and SPY good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DXLG and SPY?
Using weekly returns as of 2026-08-27: 0.31 over 3 years, with 0.37 over the last year and 0.33 over 5 years.
Is SPY a good diversifier for DXLG?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 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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Related comparisons
Hubs: DXLG correlations · SPY correlations
