CENN vs SPY: Correlation
Cenntro Inc. (CENN) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CENN and SPY?
On 3 years of weekly data the CENN/SPY correlation comes out at 0.19, weak. The link has loosened recently: the 1-year correlation (0.07) runs below the 3-year figure (0.19). The 5-year figure is 0.25, and annualized covariance runs at 267.1 %².
Among the 13 assets we track against CENN, SPY ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 107.4 points (-86.8% versus +20.6%). Note the risk asymmetry: CENN runs 6.8 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.
CENN vs SPY: side by side
| CENN (Cenntro Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -86.8% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 98.4% | 14.5% |
| Beta vs S&P 500 | 1.28 | 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 | CENN | SPY |
|---|---|---|
| 2022 | -91.8% | -18.2% |
| 2023 | -96.7% | +26.2% |
| 2024 | -25.7% | +24.9% |
| 2025 | -87.3% | +17.7% |
| 2026 | -48.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CENN and SPY good diversifiers for each other?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CENN and SPY?
Using weekly returns as of 2026-08-27: 0.19 over 3 years, with 0.07 over the last year and 0.25 over 5 years.
Is SPY a good diversifier for CENN?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.19 mean?
A reading of 0.19 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: CENN correlations · SPY correlations
