PLAY vs SPY: Correlation
Dave & Buster's Entertainment, Inc. (PLAY) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLAY and SPY?
Across a 3-year window, the weekly returns of PLAY and SPY correlate at 0.28, weak. The link has tightened recently: the 1-year correlation (0.39) runs above the 3-year figure (0.28). Stretching to 5 years gives 0.37, with an annualized covariance of 261.0 %².
Among the 14 assets we track against PLAY, SPY sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 84.5 percentage points (-63.9% for PLAY against +20.6% for SPY). One caveat on sizing: PLAY is 4.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
PLAY vs SPY: side by side
| PLAY (Dave & Buster's Entertainment, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -63.9% | +20.6% |
| 5-year return | -74.8% | +82.4% |
| Volatility (ann.) | 63.8% | 14.5% |
| Beta vs S&P 500 | 1.25 | 1.00 |
| Max drawdown (3Y) | -86.6% | -18.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| 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 | PLAY | SPY |
|---|---|---|
| 2022 | -7.7% | -18.2% |
| 2023 | +51.9% | +26.2% |
| 2024 | -45.8% | +24.9% |
| 2025 | -44.5% | +17.7% |
| 2026 | -43.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLAY and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PLAY and SPY?
As of 2026-08-27, the correlation of weekly returns between PLAY and SPY is 0.28 over 3 years, 0.39 over 1 year and 0.37 over 5 years.
Is SPY a good diversifier for PLAY?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: PLAY correlations · SPY correlations
