PH vs. SPY
PH (Parker-Hannifin Corporation) 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 10 years, PH returned 25.31%/yr vs 15.29%/yr for SPY. Their 0.59 correlation means they have sometimes moved together and sometimes differently.
Performance
PH vs. SPY - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with PH having a 13.40% return and SPY slightly higher at 13.71%. Over the past 10 years, PH has outperformed SPY with an annualized return of 25.31%, while SPY has yielded a comparatively lower 15.29% annualized return.
PH
- 1D
- -0.49%
- 1M
- 3.09%
- 6M
- 3.36%
- YTD
- 13.40%
- 1Y
- 39.25%
- 3Y*
- 35.27%
- 5Y*
- 28.67%
- 10Y*
- 25.31%
- ALL TIME*
- 15.03%
SPY
- 1D
- 1.80%
- 1M
- 3.56%
- 6M
- 12.46%
- YTD
- 13.71%
- 1Y
- 23.56%
- 3Y*
- 21.46%
- 5Y*
- 13.31%
- 10Y*
- 15.29%
- ALL TIME*
- 10.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $588.47M | $549.47M | $629.51M | |
| $40.91B | $36.93B | $39.82B |
PH vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PH Parker-Hannifin Corporation | 13.40% | 39.54% | 39.58% | 60.81% | -6.91% | 18.30% | 34.78% | 40.75% | -24.00% | 44.91% |
SPY State Street SPDR S&P 500 ETF | 13.71% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between PH and SPY is 0.43, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.43 |
Correlation (3Y) Balances recent behavior with more history. | 0.61 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.66 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 1993 | 0.59 |
The correlation between PH and SPY shifts across timeframes, from 0.43 (1 year) to 0.66 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PH vs. SPY — Risk / Return Rank
PH
SPY
PH vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Parker-Hannifin Corporation (PH) 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.
| PH | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.33 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 2.66 | -0.62 |
| Martin ratioReturn relative to average drawdown | 5.75 | 11.36 | -5.61 |
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Drawdowns
PH vs. SPY - Drawdown Comparison
The maximum PH drawdown since its inception was -66.92%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PH and SPY.
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Drawdown Indicators
| PH | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.92% | -55.19% | -11.73% |
Max Drawdown (1Y)Largest decline over 1 year | -19.34% | -8.88% | -10.46% |
Max Drawdown (3Y)Largest decline over 3 years | -26.79% | -18.76% | -8.03% |
Max Drawdown (5Y)Largest decline over 5 years | -28.64% | -24.50% | -4.14% |
Max Drawdown (10Y)Largest decline over 10 years | -54.68% | -33.72% | -20.96% |
Current DrawdownCurrent decline from peak | -2.75% | 0.00% | -2.75% |
Average DrawdownAverage peak-to-trough decline | -15.30% | -9.01% | -6.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.84% | 2.08% | +4.76% |
Volatility
PH vs. SPY - Volatility Comparison
Parker-Hannifin Corporation (PH) has a higher volatility of 6.74% compared to State Street SPDR S&P 500 ETF (SPY) at 4.13%. This indicates that PH'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
| PH | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.74% | 4.13% | +2.61% |
Volatility (6M)Calculated over the trailing 6-month period | 19.46% | 10.36% | +9.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.63% | 12.96% | +12.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.65% | 17.21% | +11.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.60% | 17.97% | +13.63% |
Dividends
PH vs. SPY - Dividend Comparison
PH's dividend yield for the trailing twelve months is around 0.75%, less than SPY's 0.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PH Parker-Hannifin Corporation | 0.75% | 0.80% | 1.00% | 1.25% | 1.73% | 1.25% | 1.29% | 1.65% | 1.97% | 1.32% | 1.80% | 2.60% |
SPY State Street SPDR S&P 500 ETF | 0.98% | 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
PH and SPY have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PH has higher volatility (6.74%) compared to SPY (4.13%). In terms of maximum drawdown, PH dropped -66.92% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.84 vs 1.54), 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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