PFGC vs SPY: Correlation
Measured on weekly returns over the past three years, Performance Food Group Company (PFGC) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFGC and SPY?
Across a 3-year window, the weekly returns of PFGC and SPY correlate at 0.46, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.28 versus 0.46 over 3 years. Stretching to 5 years gives 0.51, with an annualized covariance of 167.5 %².
Out of 12 assets tracked against PFGC, SPY lands near the bottom at #8. Correlation aside, the last 12 months split them widely, with SPY ahead by 19.9 points (+0.7% versus +20.6%). Note the risk asymmetry: PFGC runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PFGC vs SPY: side by side
| PFGC (Performance Food Group Company) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +0.7% | +20.6% |
| 5-year return | +113.4% | +82.4% |
| Volatility (ann.) | 25.2% | 14.5% |
| Beta vs S&P 500 | 0.80 | 1.00 |
| Max drawdown (3Y) | -25.5% | -18.8% |
| Market cap | $16.0B | – |
| P/E (trailing) | 44.8 | – |
| 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 | PFGC | SPY |
|---|---|---|
| 2022 | +27.2% | -18.2% |
| 2023 | +18.4% | +26.2% |
| 2024 | +22.3% | +24.9% |
| 2025 | +6.4% | +17.7% |
| 2026 | +13.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFGC and SPY good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PFGC and SPY?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.28 over the last year and 0.51 over 5 years.
Is SPY a good diversifier for PFGC?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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: PFGC correlations · SPY correlations
