CCG vs SPY: Correlation
Measured on weekly returns over the past three years, Cheche Group Inc. - Class A (CCG) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of -0.03, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCG and SPY?
Across a 3-year window, the weekly returns of CCG and SPY correlate at -0.03, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (-0.07) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -675.9 %².
SPY is close to the least connected end of CCG's tracked universe, ranking #6 of 10. Correlation aside, the last 12 months split them widely, with CCG ahead by 1840.8 points (+1861.4% versus +20.6%). Risk is not evenly split, since CCG carries 107.6 times the volatility of the other side.
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.
CCG vs SPY: side by side
| CCG (Cheche Group Inc. - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +1861.4% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 1560.5% | 14.5% |
| Beta vs S&P 500 | -3.24 | 1.00 |
| Max drawdown (3Y) | -99.5% | -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 | CCG | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | -86.2% | +24.9% |
| 2025 | -6.7% | +17.7% |
| 2026 | +1856.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCG and SPY good diversifiers for each other?
Yes. With a correlation of -0.03, CCG and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CCG and SPY?
The CCG/SPY correlation stands at -0.03 on a 3-year window (1 year: -0.07, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for CCG?
Yes. With a correlation of -0.03, CCG and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.03 mean?
A reading of -0.03 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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Related comparisons
Hubs: CCG correlations · SPY correlations
