AIHS vs SPY: Correlation
Measured on weekly returns over the past three years, Senmiao Technology Limited (AIHS) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of -0.00, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIHS and SPY?
Across a 3-year window, the weekly returns of AIHS and SPY correlate at -0.00, near zero, meaning they move largely independently. The link has tightened recently: the 1-year correlation (0.12) runs above the 3-year figure (-0.00). Stretching to 5 years gives 0.09, with an annualized covariance of -2.6 %².
Among the 19 assets we track against AIHS, SPY ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 78.9 points (-58.3% versus +20.6%). One caveat on sizing: AIHS is 5.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AIHS vs SPY: side by side
| AIHS (Senmiao Technology Limited) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -58.3% | +20.6% |
| 5-year return | -97.9% | +82.4% |
| Volatility (ann.) | 85.8% | 14.5% |
| Beta vs S&P 500 | -0.01 | 1.00 |
| Max drawdown (3Y) | -93.0% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| 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 | AIHS | SPY |
|---|---|---|
| 2022 | -75.6% | -18.2% |
| 2023 | -54.6% | +26.2% |
| 2024 | +161.0% | +24.9% |
| 2025 | -90.0% | +17.7% |
| 2026 | +22.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIHS and SPY good diversifiers for each other?
Yes. With a correlation of -0.00, AIHS and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AIHS and SPY?
As of 2026-08-27, the correlation of weekly returns between AIHS and SPY is -0.00 over 3 years, 0.12 over 1 year and 0.09 over 5 years.
Is SPY a good diversifier for AIHS?
Yes. With a correlation of -0.00, AIHS and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.00 mean?
A reading of -0.00 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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Hubs: AIHS correlations · SPY correlations
