PUK vs SPY: Correlation
Prudential Public Limited Company (PUK) 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 PUK and SPY?
Across a 3-year window, the weekly returns of PUK and SPY correlate at 0.45, moderate. Little has changed lately, as the 1-year reading of 0.42 lands near the 3-year figure. Stretching to 5 years gives 0.44, with an annualized covariance of 181.8 %².
Within PUK's tracked universe of 15 assets, SPY comes in at #7 by 3-year correlation. Over the last 12 months SPY came out ahead by 11.4 percentage points (+9.2% against +20.6%). Note the risk asymmetry: PUK runs 1.9 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.
PUK vs SPY: side by side
| PUK (Prudential Public Limited Company) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +9.2% | +20.6% |
| 5-year return | -26.0% | +82.4% |
| Volatility (ann.) | 28.0% | 14.5% |
| Beta vs S&P 500 | 0.87 | 1.00 |
| Max drawdown (3Y) | -41.8% | -18.8% |
| Market cap | $34.4B | – |
| P/E (trailing) | 9.9 | – |
| 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 | PUK | SPY |
|---|---|---|
| 2022 | -19.1% | -18.2% |
| 2023 | -17.0% | +26.2% |
| 2024 | -27.3% | +24.9% |
| 2025 | +99.3% | +17.7% |
| 2026 | -9.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PUK and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PUK and SPY?
As of 2026-08-27, the correlation of weekly returns between PUK and SPY is 0.45 over 3 years, 0.42 over 1 year and 0.44 over 5 years.
Is SPY a good diversifier for PUK?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
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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Related comparisons
Hubs: PUK correlations · SPY correlations
