PECO vs SPY: Correlation
How closely do Phillips Edison & Company, Inc. (PECO) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.24, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PECO and SPY?
Across a 3-year window, the weekly returns of PECO and SPY correlate at 0.24, weak. Lately the two have drifted apart, with the 1-year correlation at -0.01 versus 0.24 over 3 years. Stretching to 5 years gives 0.34, with an annualized covariance of 59.0 %².
Out of 12 assets tracked against PECO, SPY lands near the bottom at #8. Neither side won the trailing year by much: +17.0% against +20.6%.
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.
PECO vs SPY: side by side
| PECO (Phillips Edison & Company, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +17.0% | +20.6% |
| 5-year return | +53.8% | +82.4% |
| Volatility (ann.) | 17.2% | 14.5% |
| Beta vs S&P 500 | 0.28 | 1.00 |
| Max drawdown (3Y) | -15.8% | -18.8% |
| Market cap | $5.5B | – |
| P/E (trailing) | 34.4 | – |
| Dividend yield | 3.25% | 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 | PECO | SPY |
|---|---|---|
| 2022 | -0.3% | -18.2% |
| 2023 | +18.5% | +26.2% |
| 2024 | +6.2% | +24.9% |
| 2025 | -1.6% | +17.7% |
| 2026 | +12.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PECO and SPY good diversifiers for each other?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PECO and SPY?
The PECO/SPY correlation stands at 0.24 on a 3-year window (1 year: -0.01, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for PECO?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.24 mean?
On the −1 to +1 scale, 0.24 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: PECO correlations · SPY correlations
