DH vs. SPY
DH (Definitive Healthcare Corp.) is a stock, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 3 years, DH returned -58.25%/yr vs 20.21%/yr for SPY. At a 0.45 correlation, their price movements are largely independent.
Performance
DH vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, DH achieves a -70.43% return, which is significantly lower than SPY's 10.84% return.
DH
- 1D
- 5.76%
- 1M
- 1.10%
- 6M
- -65.64%
- YTD
- -70.43%
- 1Y
- -78.89%
- 3Y*
- -58.25%
- 5Y*
- —
- 10Y*
- —
SPY
- 1D
- 0.36%
- 1M
- 1.62%
- 6M
- 8.94%
- YTD
- 10.84%
- 1Y
- 21.66%
- 3Y*
- 20.21%
- 5Y*
- 13.10%
- 10Y*
- 15.12%
DH vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DH Definitive Healthcare Corp. | -70.43% | -30.17% | -58.65% | -9.55% | -59.79% | -26.63% |
SPY State Street SPDR S&P 500 ETF | 10.84% | 17.72% | 24.89% | 26.18% | -18.18% | 7.65% |
Correlation
The correlation between DH and SPY is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | 0.45 |
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Return for Risk
DH vs. SPY — Risk / Return Rank
DH
SPY
DH vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Definitive Healthcare Corp. (DH) and State Street SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DH | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.82 | ||
| Sortino ratioReturn per unit of downside risk | -4.67 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 1.31 | -0.57 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 2.45 | -3.37 |
| Martin ratioReturn relative to average drawdown | -1.44 | 10.67 | -12.11 |
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Drawdowns
DH vs. SPY - Drawdown Comparison
The maximum DH drawdown since its inception was -98.72%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for DH and SPY.
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Drawdown Indicators
| DH | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.72% | -55.19% | -43.53% |
Max Drawdown (1Y)Largest decline over 1 year | -85.40% | -8.88% | -76.52% |
Max Drawdown (3Y)Largest decline over 3 years | -94.82% | -18.76% | -76.06% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -98.27% | -0.76% | -97.51% |
Average DrawdownAverage peak-to-trough decline | -78.46% | -9.02% | -69.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 54.78% | 2.04% | +52.74% |
Volatility
DH vs. SPY - Volatility Comparison
Definitive Healthcare Corp. (DH) has a higher volatility of 33.04% compared to State Street SPDR S&P 500 ETF (SPY) at 3.96%. This indicates that DH's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DH | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.04% | 3.96% | +29.08% |
Volatility (6M)Calculated over the trailing 6-month period | 58.36% | 10.00% | +48.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.82% | 12.58% | +60.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 69.34% | 17.17% | +52.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.34% | 17.93% | +51.41% |
Dividends
DH vs. SPY - Dividend Comparison
DH has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.00%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DH Definitive Healthcare Corp. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.00% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
DH and SPY have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DH has higher volatility (33.04%) compared to SPY (3.96%). In terms of maximum drawdown, DH dropped -98.72% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.73 vs -1.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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