NBXG vs SPYG: Correlation
Neuberger Next Generation Connectivity Fund Inc. (NBXG) and SPDR Portfolio S&P 500 Growth ETF (SPYG) show a very strong relationship: their 3-year correlation of weekly returns is 0.85.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NBXG and SPYG?
Across a 3-year window, the weekly returns of NBXG and SPYG correlate at 0.85, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.79) sits close to the 3-year figure. Stretching to 5 years gives 0.83, with an annualized covariance of 360.5 %².
Among the 31 assets we track against NBXG, SPYG ranks #4 by 3-year correlation. Over the last 12 months SPYG came out ahead by 8.6 percentage points (+13.8% against +22.4%).
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.
NBXG vs SPYG: side by side
| NBXG (Neuberger Next Generation Connectivity Fund Inc.) | SPYG (SPDR Portfolio S&P 500 Growth ETF) | |
|---|---|---|
| 1-year return | +13.8% | +22.4% |
| 5-year return | +25.6% | +85.9% |
| Volatility (ann.) | 22.4% | 18.9% |
| Beta vs S&P 500 | 1.28 | 1.25 |
| Max drawdown (3Y) | -22.1% | -22.1% |
| Market cap | $1.2B | – |
| P/E (trailing) | 3.4 | – |
| Dividend yield | 0.00% | 0.49% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $52.2B |
| Sector / category | US Listed | 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 | NBXG | SPYG |
|---|---|---|
| 2022 | -41.4% | -29.4% |
| 2023 | +34.9% | +30.0% |
| 2024 | +28.5% | +36.0% |
| 2025 | +24.2% | +22.1% |
| 2026 | +13.0% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NBXG and SPYG good diversifiers for each other?
No. With a correlation of 0.85, NBXG and SPYG move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between NBXG and SPYG?
As of 2026-08-27, the correlation of weekly returns between NBXG and SPYG is 0.85 over 3 years, 0.79 over 1 year and 0.83 over 5 years.
Is SPYG a good diversifier for NBXG?
No. With a correlation of 0.85, NBXG and SPYG move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nbxg-vs-spyg.json
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[](https://www.pairbook.io/pair/nbxg-vs-spyg/)
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Related comparisons
Hubs: NBXG correlations · SPYG correlations
