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Among various published methods on computational methods for soil structure interaction, which method among the two give a better correlation to reality; DEM or SPH?
Accuracy of SPH mostly depends on smoothing functions you choose. As you know that only the choice of this numerical approach cannot give you a convergent solution. I have seen modifications to commercial SPH packages like in Abaqus wherein soil-structure/ fluid structure interaction models gave beautiful results. Hence Let us wait for advancement of SPH for Industrial purpose.
DEM is a better choice for soil-structure interactions.
We must always keep in mind that FEM DEM SPH BEM FDM etc are just numerical solution techniques to some pde's we have, mostly Boundary Value Problems. Hence accuracy of such problems are greatly depends upon your interaction modelling(in this case) rather than the choice of solution technique.
Nowadays, a Coupled Simulation (DEM & FEM coupling by Dirichlet- Neumann BC interchange) is always preferred by engineers in real life problems. As it considerably reduces computational cost with appreciable accuracy.