PLXS vs SPY: Correlation
Plexus Corp. (PLXS) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLXS and SPY?
Across a 3-year window, the weekly returns of PLXS and SPY correlate at 0.45, moderate. The link has loosened recently: the 1-year correlation (0.31) runs below the 3-year figure (0.45). Stretching to 5 years gives 0.46, with an annualized covariance of 214.8 %².
SPY is close to the least connected end of PLXS's tracked universe, ranking #9 of 13. Their recent paths diverged sharply: over the last 12 months PLXS outperformed by 56.5 percentage points (+77.1% for PLXS against +20.6% for SPY). Risk is not evenly split, since PLXS carries 2.3 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.
PLXS vs SPY: side by side
| PLXS (Plexus Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +77.1% | +20.6% |
| 5-year return | +165.9% | +82.4% |
| Volatility (ann.) | 33.3% | 14.5% |
| Beta vs S&P 500 | 1.03 | 1.00 |
| Max drawdown (3Y) | -34.9% | -18.8% |
| Market cap | $6.5B | – |
| P/E (trailing) | 36.1 | – |
| 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 | PLXS | SPY |
|---|---|---|
| 2022 | +7.3% | -18.2% |
| 2023 | +5.1% | +26.2% |
| 2024 | +44.7% | +24.9% |
| 2025 | -6.1% | +17.7% |
| 2026 | +67.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLXS and SPY good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PLXS and SPY?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.31 over the last year and 0.46 over 5 years.
Is SPY a good diversifier for PLXS?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
A reading of 0.45 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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Hubs: PLXS correlations · SPY correlations
