GOOG vs SPYG: Correlation
Alphabet Inc. (Class C) (GOOG) and SPDR Portfolio S&P 500 Growth ETF (SPYG) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GOOG and SPYG?
On 3 years of weekly data the GOOG/SPYG correlation comes out at 0.61, strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.61 over 3. The 5-year figure is 0.67, and annualized covariance runs at 361.6 %².
Within GOOG's tracked universe of 36 assets, SPYG comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GOOG ahead by 40.3 points (+62.7% versus +22.4%). The link looks structural: the rolling one-year correlation barely moved, holding between 0.51 and 0.72. Note the risk asymmetry: GOOG runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GOOG vs SPYG: side by side
| GOOG (Alphabet Inc. (Class C)) | SPYG (SPDR Portfolio S&P 500 Growth ETF) | |
|---|---|---|
| 1-year return | +62.7% | +22.4% |
| 5-year return | +134.2% | +85.9% |
| Volatility (ann.) | 31.1% | 18.9% |
| Beta vs S&P 500 | 1.20 | 1.25 |
| Max drawdown (3Y) | -29.4% | -22.1% |
| Market cap | $4,130.2B | – |
| P/E (trailing) | 17.0 | – |
| Dividend yield | 0.25% | 0.49% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $52.2B |
| Sector / category | Communication Services | 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 | GOOG | SPYG |
|---|---|---|
| 2022 | -38.7% | -29.4% |
| 2023 | +58.8% | +30.0% |
| 2024 | +35.6% | +36.0% |
| 2025 | +65.4% | +22.1% |
| 2026 | +7.8% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
GOOG represents 4.49% of SPYG's portfolio, so part of any move in SPYG is GOOG itself, and the correlation between them is partly mechanical.
Are GOOG and SPYG good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GOOG and SPYG?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.62 over the last year and 0.67 over 5 years.
Is SPYG a good diversifier for GOOG?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 mean?
A reading of 0.61 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/goog-vs-spyg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/goog-vs-spyg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GOOG correlations · SPYG correlations
