PRGO vs SPY: Correlation
How closely do Perrigo Company plc (PRGO) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRGO and SPY?
Over the past 3 years, PRGO and SPY moved with a correlation of 0.27, which is weak. Lately the two have moved closer together, with the 1-year correlation at 0.52 versus 0.27 over 3 years. Over 5 years the correlation is 0.23, and the annualized covariance of weekly returns is 170.8 %².
Out of 10 assets tracked against PRGO, SPY lands near the bottom at #6. Correlation aside, the last 12 months split them widely, with SPY ahead by 56.7 points (-36.1% versus +20.6%). One caveat on sizing: PRGO is 3.0 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.
PRGO vs SPY: side by side
| PRGO (Perrigo Company plc) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -36.1% | +20.6% |
| 5-year return | -56.9% | +82.4% |
| Volatility (ann.) | 43.6% | 14.5% |
| Beta vs S&P 500 | 0.82 | 1.00 |
| Max drawdown (3Y) | -71.6% | -18.8% |
| Market cap | $2.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 7.86% | 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 | PRGO | SPY |
|---|---|---|
| 2022 | -9.8% | -18.2% |
| 2023 | -2.5% | +26.2% |
| 2024 | -16.9% | +24.9% |
| 2025 | -44.0% | +17.7% |
| 2026 | +8.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRGO and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PRGO and SPY?
As of 2026-08-27, the correlation of weekly returns between PRGO and SPY is 0.27 over 3 years, 0.52 over 1 year and 0.23 over 5 years.
Is SPY a good diversifier for PRGO?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 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: PRGO correlations · SPY correlations
