CHAI vs SPY: Correlation
Core AI Holdings, Inc. (CHAI) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.09.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHAI and SPY?
Over the past 3 years, CHAI and SPY moved with a correlation of 0.09, which is near zero, meaning they move largely independently. The link has tightened recently: the 1-year correlation (0.35) runs above the 3-year figure (0.09). Over 5 years the correlation is 0.11, and the annualized covariance of weekly returns is 197.7 %².
SPY is close to the least connected end of CHAI's tracked universe, ranking #7 of 11. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 118.5 percentage points (-97.9% for CHAI against +20.6% for SPY). Risk is not evenly split, since CHAI carries 10.6 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.
CHAI vs SPY: side by side
| CHAI (Core AI Holdings, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -97.9% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 153.8% | 14.5% |
| Beta vs S&P 500 | 0.95 | 1.00 |
| Max drawdown (3Y) | -100.0% | -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 | CHAI | SPY |
|---|---|---|
| 2022 | -95.9% | -18.2% |
| 2023 | -96.1% | +26.2% |
| 2024 | -99.2% | +24.9% |
| 2025 | -93.3% | +17.7% |
| 2026 | -84.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHAI and SPY good diversifiers for each other?
Yes: at 0.09, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CHAI and SPY?
As of 2026-08-27, the correlation of weekly returns between CHAI and SPY is 0.09 over 3 years, 0.35 over 1 year and 0.11 over 5 years.
Is SPY a good diversifier for CHAI?
Yes: at 0.09, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.09 mean?
On the −1 to +1 scale, 0.09 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/chai-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/chai-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHAI correlations · SPY correlations
