PLPC vs SPY: Correlation
Preformed Line Products Company (PLPC) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLPC and SPY?
On 3 years of weekly data the PLPC/SPY correlation comes out at 0.26, weak. Little has changed lately, as the 1-year reading of 0.36 lands near the 3-year figure. The 5-year figure is 0.30, and annualized covariance runs at 159.4 %².
Out of 10 assets tracked against PLPC, SPY lands near the bottom at #6. Correlation aside, the last 12 months split them widely, with PLPC ahead by 100.8 points (+121.4% versus +20.6%). Risk is not evenly split, since PLPC carries 2.9 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.
PLPC vs SPY: side by side
| PLPC (Preformed Line Products Company) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +121.4% | +20.6% |
| 5-year return | +514.6% | +82.4% |
| Volatility (ann.) | 42.3% | 14.5% |
| Beta vs S&P 500 | 0.76 | 1.00 |
| Max drawdown (3Y) | -38.5% | -18.8% |
| Market cap | $2.1B | – |
| P/E (trailing) | 46.4 | – |
| Dividend yield | 0.20% | 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 | PLPC | SPY |
|---|---|---|
| 2022 | +29.9% | -18.2% |
| 2023 | +61.8% | +26.2% |
| 2024 | -3.9% | +24.9% |
| 2025 | +62.6% | +17.7% |
| 2026 | +104.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLPC and SPY good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PLPC and SPY?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with 0.36 over the last year and 0.30 over 5 years.
Is SPY a good diversifier for PLPC?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 mean?
A reading of 0.26 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: PLPC correlations · SPY correlations
