PHM vs SPY: Correlation
How closely do PulteGroup (PHM) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PHM and SPY?
Over the past 3 years, PHM and SPY moved with a correlation of 0.37, which is moderate. The relationship has been stable: the 1-year correlation (0.27) sits close to the 3-year figure. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 171.9 %².
Within PHM's tracked universe of 47 assets, SPY comes in at #35 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 23.1 percentage points (-2.5% for PHM against +20.6% for SPY). Across three years, the rolling one-year figure varied moderately, from 0.21 to 0.69. Note the risk asymmetry: PHM runs 2.2 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.
PHM vs SPY: side by side
| PHM (PulteGroup) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -2.5% | +20.6% |
| 5-year return | +145.5% | +82.4% |
| Volatility (ann.) | 32.2% | 14.5% |
| Beta vs S&P 500 | 0.82 | 1.00 |
| Max drawdown (3Y) | -38.0% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 13.3 | – |
| Dividend yield | 0.77% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Consumer Discretionary | 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 | PHM | SPY |
|---|---|---|
| 2022 | -19.2% | -18.2% |
| 2023 | +128.8% | +26.2% |
| 2024 | +6.2% | +24.9% |
| 2025 | +8.5% | +17.7% |
| 2026 | +8.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PHM and SPY good diversifiers for each other?
Reasonably. At 0.37, PHM and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PHM and SPY?
The PHM/SPY correlation stands at 0.37 on a 3-year window (1 year: 0.27, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for PHM?
Reasonably. At 0.37, PHM and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: PHM correlations · SPY correlations
