PRG vs SPY: Correlation
Measured on weekly returns over the past three years, PROG Holdings, Inc. (PRG) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRG and SPY?
Across a 3-year window, the weekly returns of PRG and SPY correlate at 0.33, moderate. Little has changed lately, as the 1-year reading of 0.24 lands near the 3-year figure. Stretching to 5 years gives 0.43, with an annualized covariance of 222.5 %².
Among the 12 assets we track against PRG, SPY sits near the bottom by co-movement, at rank #8. Over the last 12 months SPY came out ahead by 6.7 percentage points (+13.9% against +20.6%). Note the risk asymmetry: PRG runs 3.2 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.
PRG vs SPY: side by side
| PRG (PROG Holdings, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +13.9% | +20.6% |
| 5-year return | -13.8% | +82.4% |
| Volatility (ann.) | 46.7% | 14.5% |
| Beta vs S&P 500 | 1.07 | 1.00 |
| Max drawdown (3Y) | -51.9% | -18.8% |
| Market cap | $1.6B | – |
| P/E (trailing) | 12.8 | – |
| Dividend yield | 1.36% | 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 | PRG | SPY |
|---|---|---|
| 2022 | -62.6% | -18.2% |
| 2023 | +83.0% | +26.2% |
| 2024 | +38.4% | +24.9% |
| 2025 | -29.0% | +17.7% |
| 2026 | +36.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRG and SPY good diversifiers for each other?
Reasonably. At 0.33, PRG and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PRG and SPY?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.24 over the last year and 0.43 over 5 years.
Is SPY a good diversifier for PRG?
Reasonably. At 0.33, PRG and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 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: PRG correlations · SPY correlations
