GOOGL vs SPYG: Correlation
Alphabet Inc. (Class A) (GOOGL) and SPDR Portfolio S&P 500 Growth ETF (SPYG) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GOOGL and SPYG?
Across a 3-year window, the weekly returns of GOOGL and SPYG correlate at 0.62, strong. Little has changed lately, as the 1-year reading of 0.62 lands near the 3-year figure. Stretching to 5 years gives 0.68, with an annualized covariance of 366.9 %².
By 3-year correlation, SPYG places #4 of the 37 assets tracked against GOOGL. Correlation aside, the last 12 months split them widely, with GOOGL ahead by 42.3 points (+64.7% versus +22.4%). Stability stands out here, with the rolling one-year correlation confined to 0.51 through 0.72. Risk is not evenly split, since GOOGL carries 1.7 times the volatility of the other side.
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.
GOOGL vs SPYG: side by side
| GOOGL (Alphabet Inc. (Class A)) | SPYG (SPDR Portfolio S&P 500 Growth ETF) | |
|---|---|---|
| 1-year return | +64.7% | +22.4% |
| 5-year return | +137.7% | +85.9% |
| Volatility (ann.) | 31.4% | 18.9% |
| Beta vs S&P 500 | 1.22 | 1.25 |
| Max drawdown (3Y) | -29.8% | -22.1% |
| Market cap | $4,166.1B | – |
| P/E (trailing) | 17.2 | – |
| 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 | GOOGL | SPYG |
|---|---|---|
| 2022 | -39.1% | -29.4% |
| 2023 | +58.3% | +30.0% |
| 2024 | +36.0% | +36.0% |
| 2025 | +66.0% | +22.1% |
| 2026 | +9.0% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that SPYG holds GOOGL at a 5.61% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are GOOGL and SPYG good diversifiers for each other?
Only partially. A correlation of 0.62 means GOOGL and SPYG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GOOGL and SPYG?
The GOOGL/SPYG correlation stands at 0.62 on a 3-year window (1 year: 0.62, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is SPYG a good diversifier for GOOGL?
Only partially. A correlation of 0.62 means GOOGL and SPYG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
A reading of 0.62 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/googl-vs-spyg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/googl-vs-spyg/)
Free with attribution; caching and terms are described in the API documentation.
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Hubs: GOOGL correlations · SPYG correlations
