CCLD vs SPY: Correlation
CareCloud, Inc. (CCLD) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCLD and SPY?
Over the past 3 years, CCLD and SPY moved with a correlation of 0.24, which is weak. Lately the two have drifted apart, with the 1-year correlation at -0.03 versus 0.24 over 3 years. Over 5 years the correlation is 0.23, and the annualized covariance of weekly returns is 429.8 %².
Out of 15 assets tracked against CCLD, SPY lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with SPY ahead by 48.9 points (-28.3% versus +20.6%). Risk is not evenly split, since CCLD carries 8.7 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.
CCLD vs SPY: side by side
| CCLD (CareCloud, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -28.3% | +20.6% |
| 5-year return | -67.7% | +82.4% |
| Volatility (ann.) | 126.0% | 14.5% |
| Beta vs S&P 500 | 2.06 | 1.00 |
| Max drawdown (3Y) | -74.2% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 38.0 | – |
| 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 | CCLD | SPY |
|---|---|---|
| 2022 | -55.5% | -18.2% |
| 2023 | -45.9% | +26.2% |
| 2024 | +140.8% | +24.9% |
| 2025 | -20.2% | +17.7% |
| 2026 | -8.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCLD and SPY good diversifiers for each other?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CCLD and SPY?
As of 2026-08-27, the correlation of weekly returns between CCLD and SPY is 0.24 over 3 years, -0.03 over 1 year and 0.23 over 5 years.
Is SPY a good diversifier for CCLD?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.24 mean?
On the −1 to +1 scale, 0.24 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: CCLD correlations · SPY correlations
