CCTG vs SPY: Correlation
How closely do CCSC Technology International Holdings Limited - Class A (CCTG) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.16, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCTG and SPY?
On 3 years of weekly data the CCTG/SPY correlation comes out at 0.16, weak. The past 12 months show a tighter link (0.33) than the 3-year average (0.16). The 5-year figure is n/a, and annualized covariance runs at 328.4 %².
Out of 10 assets tracked against CCTG, SPY lands near the bottom at #7. The last year tells two different stories: SPY led by 114.3 percentage points, -93.7% for CCTG against +20.6% for SPY. Note the risk asymmetry: CCTG runs 9.8 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.
CCTG vs SPY: side by side
| CCTG (CCSC Technology International Holdings Limited - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -93.7% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 142.0% | 14.5% |
| Beta vs S&P 500 | 1.57 | 1.00 |
| Max drawdown (3Y) | -99.8% | -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 | CCTG | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | – | +24.9% |
| 2025 | -90.1% | +17.7% |
| 2026 | -55.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCTG and SPY good diversifiers for each other?
Yes. With a correlation of 0.16, CCTG and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CCTG and SPY?
The CCTG/SPY correlation stands at 0.16 on a 3-year window (1 year: 0.33, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for CCTG?
Yes. With a correlation of 0.16, CCTG and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.16 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: CCTG correlations · SPY correlations
