CDTG vs SPY: Correlation
Measured on weekly returns over the past three years, CDT Environmental Technology Investment Holdings Limited (CDTG) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.04, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDTG and SPY?
Over the past 3 years, CDTG and SPY moved with a correlation of 0.04, which is near zero, meaning they move largely independently. Lately the two have moved closer together, with the 1-year correlation at 0.18 versus 0.04 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 87.8 %².
By 3-year correlation, SPY places #7 of the 34 assets tracked against CDTG. Correlation aside, the last 12 months split them widely, with SPY ahead by 113.2 points (-92.6% versus +20.6%). Note the risk asymmetry: CDTG runs 11.1 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.
CDTG vs SPY: side by side
| CDTG (CDT Environmental Technology Investment Holdings Limited) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -92.6% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 160.6% | 14.5% |
| Beta vs S&P 500 | 0.42 | 1.00 |
| Max drawdown (3Y) | -99.2% | -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 | CDTG | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | – | +24.9% |
| 2025 | -92.2% | +17.7% |
| 2026 | -87.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDTG and SPY good diversifiers for each other?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CDTG and SPY?
As of 2026-08-27, the correlation of weekly returns between CDTG and SPY is 0.04 over 3 years, 0.18 over 1 year and n/a over 5 years.
Is SPY a good diversifier for CDTG?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.04 mean?
A reading of 0.04 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: CDTG correlations · SPY correlations
