CET vs SPY: Correlation
Central Securities Corporation (CET) and SPDR S&P 500 ETF Trust (SPY) show a very strong relationship: their 3-year correlation of weekly returns is 0.89.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CET and SPY?
Over the past 3 years, CET and SPY moved with a correlation of 0.89, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.82) sits close to the 3-year figure. Over 5 years the correlation is 0.86, and the annualized covariance of weekly returns is 163.5 %².
In CET's tracked universe of 38 assets, SPY sits right near the top at #2. Neither side won the trailing year by much: +15.7% against +20.6%.
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.
CET vs SPY: side by side
| CET (Central Securities Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +15.7% | +20.6% |
| 5-year return | +73.3% | +82.4% |
| Volatility (ann.) | 12.8% | 14.5% |
| Beta vs S&P 500 | 0.78 | 1.00 |
| Max drawdown (3Y) | -15.4% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 7.3 | – |
| Dividend yield | 5.03% | 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 | CET | SPY |
|---|---|---|
| 2022 | -19.7% | -18.2% |
| 2023 | +19.2% | +26.2% |
| 2024 | +26.8% | +24.9% |
| 2025 | +17.2% | +17.7% |
| 2026 | +8.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CET and SPY good diversifiers for each other?
No. With a correlation of 0.89, CET and SPY move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CET and SPY?
Using weekly returns as of 2026-08-27: 0.89 over 3 years, with 0.82 over the last year and 0.86 over 5 years.
Is SPY a good diversifier for CET?
No. With a correlation of 0.89, CET and SPY move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.89 mean?
A reading of 0.89 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: CET correlations · SPY correlations
