CHCI vs SPY: Correlation
Comstock Holding Companies, Inc. (CHCI) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is -0.06.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHCI and SPY?
Across a 3-year window, the weekly returns of CHCI and SPY correlate at -0.06, near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of -0.15 lands near the 3-year figure. Stretching to 5 years gives 0.05, with an annualized covariance of -47.6 %².
SPY is close to the least connected end of CHCI's tracked universe, ranking #6 of 10. Over the last 12 months SPY came out ahead by 6.5 percentage points (+14.1% against +20.6%). Risk is not evenly split, since CHCI carries 3.9 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.
CHCI vs SPY: side by side
| CHCI (Comstock Holding Companies, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +14.1% | +20.6% |
| 5-year return | +236.2% | +82.4% |
| Volatility (ann.) | 56.1% | 14.5% |
| Beta vs S&P 500 | -0.23 | 1.00 |
| Max drawdown (3Y) | -47.9% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 8.4 | – |
| 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 | CHCI | SPY |
|---|---|---|
| 2022 | -12.4% | -18.2% |
| 2023 | +4.2% | +26.2% |
| 2024 | +82.4% | +24.9% |
| 2025 | +43.8% | +17.7% |
| 2026 | +71.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHCI and SPY good diversifiers for each other?
By historical standards, yes. A correlation of -0.06 means the two rarely move for the same reasons.
FAQ
What is the correlation between CHCI and SPY?
The CHCI/SPY correlation stands at -0.06 on a 3-year window (1 year: -0.15, 5 years: 0.05), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for CHCI?
By historical standards, yes. A correlation of -0.06 means the two rarely move for the same reasons.
What does a correlation of -0.06 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: CHCI correlations · SPY correlations
