EVRG vs SPY: Correlation
Measured on weekly returns over the past three years, Evergy (EVRG) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.11, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVRG and SPY?
Over the past 3 years, EVRG and SPY moved with a correlation of 0.11, which is weak. The link has loosened recently: the 1-year correlation (-0.11) runs below the 3-year figure (0.11). Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 27.5 %².
Among the 44 assets we track against EVRG, SPY ranks #33 by 3-year correlation. Twelve-month performance is nearly a tie, at +16.9% for EVRG and +20.6% for SPY. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.14 to 0.38.
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.
EVRG vs SPY: side by side
| EVRG (Evergy) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +16.9% | +20.6% |
| 5-year return | +46.3% | +82.4% |
| Volatility (ann.) | 17.9% | 14.5% |
| Beta vs S&P 500 | 0.13 | 1.00 |
| Max drawdown (3Y) | -15.8% | -18.8% |
| Market cap | $18.8B | – |
| P/E (trailing) | 20.9 | – |
| Dividend yield | 3.35% | 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 | EVRG | SPY |
|---|---|---|
| 2022 | -4.9% | -18.2% |
| 2023 | -13.3% | +26.2% |
| 2024 | +23.4% | +24.9% |
| 2025 | +22.4% | +17.7% |
| 2026 | +15.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVRG and SPY good diversifiers for each other?
Yes. With a correlation of 0.11, EVRG and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EVRG and SPY?
Using weekly returns as of 2026-08-27: 0.11 over 3 years, with -0.11 over the last year and 0.29 over 5 years.
Is SPY a good diversifier for EVRG?
Yes. With a correlation of 0.11, EVRG and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.11 mean?
A reading of 0.11 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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Hubs: EVRG correlations · SPY correlations
