PRU vs SPY: Correlation
Prudential Financial (PRU) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRU and SPY?
Over the past 3 years, PRU and SPY moved with a correlation of 0.50, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.24 versus 0.50 over 3 years. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 165.5 %².
Among the 31 assets we track against PRU, SPY ranks #19 by 3-year correlation. Twelve-month performance is nearly a tie, at +15.8% for PRU and +20.6% for SPY. The rolling one-year correlation moved between 0.22 and 0.70 over the past three years, a moderate range. Risk is not evenly split, since PRU carries 1.6 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.
PRU vs SPY: side by side
| PRU (Prudential Financial) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +15.8% | +20.6% |
| 5-year return | +45.1% | +82.4% |
| Volatility (ann.) | 23.0% | 14.5% |
| Beta vs S&P 500 | 0.79 | 1.00 |
| Max drawdown (3Y) | -25.7% | -18.8% |
| Market cap | $41.5B | – |
| P/E (trailing) | 10.9 | – |
| Dividend yield | 4.57% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Financials | 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 | PRU | SPY |
|---|---|---|
| 2022 | -3.9% | -18.2% |
| 2023 | +10.1% | +26.2% |
| 2024 | +19.5% | +24.9% |
| 2025 | +0.2% | +17.7% |
| 2026 | +10.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that SPY holds PRU at a 0.06% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are PRU and SPY good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between PRU and SPY?
The PRU/SPY correlation stands at 0.50 on a 3-year window (1 year: 0.24, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for PRU?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 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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Hubs: PRU correlations · SPY correlations
