EG vs SPY: Correlation
Measured on weekly returns over the past three years, Everest Group (EG) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.18, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EG and SPY?
On 3 years of weekly data the EG/SPY correlation comes out at 0.18, weak. Recent behaviour matches the longer record: 0.08 over 1 year against 0.18 over 3. The 5-year figure is 0.28, and annualized covariance runs at 58.5 %².
By 3-year correlation, SPY places #19 of the 30 assets tracked against EG. The trailing year gives SPY the advantage: +11.3% versus +20.6%, a 9.3-point spread. This link changes with the market regime, having swung between -0.06 and 0.47 on a rolling one-year basis. One caveat on sizing: EG is 1.5 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.
EG vs SPY: side by side
| EG (Everest Group) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +11.3% | +20.6% |
| 5-year return | +57.2% | +82.4% |
| Volatility (ann.) | 22.2% | 14.5% |
| Beta vs S&P 500 | 0.28 | 1.00 |
| Max drawdown (3Y) | -23.8% | -18.8% |
| Market cap | $14.5B | – |
| P/E (trailing) | 8.0 | – |
| Dividend yield | 2.11% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Financials | 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 | EG | SPY |
|---|---|---|
| 2022 | +23.7% | -18.2% |
| 2023 | +8.7% | +26.2% |
| 2024 | +4.6% | +24.9% |
| 2025 | -5.3% | +17.7% |
| 2026 | +12.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EG and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between EG and SPY?
As of 2026-08-27, the correlation of weekly returns between EG and SPY is 0.18 over 3 years, 0.08 over 1 year and 0.28 over 5 years.
Is SPY a good diversifier for EG?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
What does a correlation of 0.18 mean?
On the −1 to +1 scale, 0.18 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: EG correlations · SPY correlations
