LDOS vs SPY: Correlation
Leidos (LDOS) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LDOS and SPY?
Over the past 3 years, LDOS and SPY moved with a correlation of 0.40, which is moderate. The relationship has been stable: the 1-year correlation (0.34) sits close to the 3-year figure. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 182.7 %².
By 3-year correlation, SPY places #23 of the 36 assets tracked against LDOS. The last year tells two different stories: SPY led by 43.5 percentage points, -22.9% for LDOS against +20.6% for SPY. Across three years, the rolling one-year figure varied moderately, from 0.27 to 0.60. Risk is not evenly split, since LDOS carries 2.2 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.
LDOS vs SPY: side by side
| LDOS (Leidos) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -22.9% | +20.6% |
| 5-year return | +52.1% | +82.4% |
| Volatility (ann.) | 31.4% | 14.5% |
| Beta vs S&P 500 | 0.87 | 1.00 |
| Max drawdown (3Y) | -49.5% | -18.8% |
| Market cap | $17.6B | – |
| P/E (trailing) | 12.8 | – |
| Dividend yield | 1.23% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Industrials | 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 | LDOS | SPY |
|---|---|---|
| 2022 | +20.0% | -18.2% |
| 2023 | +4.5% | +26.2% |
| 2024 | +34.5% | +24.9% |
| 2025 | +26.5% | +17.7% |
| 2026 | -22.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LDOS and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LDOS and SPY?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.34 over the last year and 0.41 over 5 years.
Is SPY a good diversifier for LDOS?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: LDOS correlations · SPY correlations
