OMC vs SPY: Correlation
Measured on weekly returns over the past three years, Omnicom Group (OMC) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OMC and SPY?
Over the past 3 years, OMC and SPY moved with a correlation of 0.39, which is moderate. The past 12 months show a weaker link (0.15) than the 3-year average (0.39). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 157.9 %².
By 3-year correlation, SPY places #21 of the 36 assets tracked against OMC. Twelve-month performance is nearly a tie, at +16.5% for OMC and +20.6% for SPY. Across three years, the rolling one-year figure varied moderately, from 0.16 to 0.64. Risk is not evenly split, since OMC carries 1.9 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.
OMC vs SPY: side by side
| OMC (Omnicom Group) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +16.5% | +20.6% |
| 5-year return | +45.6% | +82.4% |
| Volatility (ann.) | 28.0% | 14.5% |
| Beta vs S&P 500 | 0.76 | 1.00 |
| Max drawdown (3Y) | -33.3% | -18.8% |
| Market cap | $24.1B | – |
| P/E (trailing) | 237.5 | – |
| Dividend yield | 3.53% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Communication Services | 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 | OMC | SPY |
|---|---|---|
| 2022 | +15.7% | -18.2% |
| 2023 | +9.6% | +26.2% |
| 2024 | +2.5% | +24.9% |
| 2025 | -2.6% | +17.7% |
| 2026 | +11.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OMC and SPY good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between OMC and SPY?
The OMC/SPY correlation stands at 0.39 on a 3-year window (1 year: 0.15, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for OMC?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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: OMC correlations · SPY correlations
