MYRG vs SPY: Correlation
How closely do MYR Group, Inc. (MYRG) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MYRG and SPY?
Over the past 3 years, MYRG and SPY moved with a correlation of 0.47, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.24 versus 0.47 over 3 years. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 340.1 %².
Among the 14 assets we track against MYRG, SPY ranks #9 by 3-year correlation. The last year tells two different stories: MYRG led by 44.9 percentage points, +65.5% for MYRG against +20.6% for SPY. One caveat on sizing: MYRG is 3.4 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.
MYRG vs SPY: side by side
| MYRG (MYR Group, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +65.5% | +20.6% |
| 5-year return | +196.6% | +82.4% |
| Volatility (ann.) | 49.8% | 14.5% |
| Beta vs S&P 500 | 1.63 | 1.00 |
| Max drawdown (3Y) | -50.3% | -18.8% |
| Market cap | $4.8B | – |
| P/E (trailing) | 29.7 | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | 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 | MYRG | SPY |
|---|---|---|
| 2022 | -16.7% | -18.2% |
| 2023 | +57.1% | +26.2% |
| 2024 | +2.9% | +24.9% |
| 2025 | +46.9% | +17.7% |
| 2026 | +41.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MYRG and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MYRG and SPY?
As of 2026-08-27, the correlation of weekly returns between MYRG and SPY is 0.47 over 3 years, 0.24 over 1 year and 0.43 over 5 years.
Is SPY a good diversifier for MYRG?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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: MYRG correlations · SPY correlations
