CCEC vs SPY: Correlation
Capital Clean Energy Carriers Corp. - Common Share (CCEC) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCEC and SPY?
Over the past 3 years, CCEC and SPY moved with a correlation of 0.16, which is weak. The relationship has been stable: the 1-year correlation (0.21) sits close to the 3-year figure. Over 5 years the correlation is 0.23, and the annualized covariance of weekly returns is 72.7 %².
SPY is close to the least connected end of CCEC's tracked universe, ranking #6 of 10. The trailing year gives SPY the advantage: +8.6% versus +20.6%, a 12.0-point spread. Note the risk asymmetry: CCEC runs 2.2 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.
CCEC vs SPY: side by side
| CCEC (Capital Clean Energy Carriers Corp. - Common Share) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +8.6% | +20.6% |
| 5-year return | +118.1% | +82.4% |
| Volatility (ann.) | 31.2% | 14.5% |
| Beta vs S&P 500 | 0.35 | 1.00 |
| Max drawdown (3Y) | -28.6% | -18.8% |
| Market cap | $1.4B | – |
| P/E (trailing) | 13.6 | – |
| Dividend yield | 2.67% | 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 | CCEC | SPY |
|---|---|---|
| 2022 | -11.8% | -18.2% |
| 2023 | +8.7% | +26.2% |
| 2024 | +33.9% | +24.9% |
| 2025 | +17.0% | +17.7% |
| 2026 | +11.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCEC and SPY good diversifiers for each other?
Yes. With a correlation of 0.16, CCEC and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CCEC and SPY?
As of 2026-08-27, the correlation of weekly returns between CCEC and SPY is 0.16 over 3 years, 0.21 over 1 year and 0.23 over 5 years.
Is SPY a good diversifier for CCEC?
Yes. With a correlation of 0.16, CCEC and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.16 mean?
On the −1 to +1 scale, 0.16 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: CCEC correlations · SPY correlations
