CHD vs SPY: Correlation
How closely do Church & Dwight (CHD) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.05, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHD and SPY?
On 3 years of weekly data the CHD/SPY correlation comes out at 0.05, near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.12 over 1 year against 0.05 over 3. The 5-year figure is 0.27, and annualized covariance runs at 13.8 %².
Among the 27 assets we track against CHD, SPY ranks #16 by 3-year correlation. The trailing year gives SPY the advantage: +11.5% versus +20.6%, a 9.1-point spread. This link changes with the market regime, having swung between -0.11 and 0.53 on a rolling one-year basis.
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.
CHD vs SPY: side by side
| CHD (Church & Dwight) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +11.5% | +20.6% |
| 5-year return | +30.0% | +82.4% |
| Volatility (ann.) | 17.6% | 14.5% |
| Beta vs S&P 500 | 0.07 | 1.00 |
| Max drawdown (3Y) | -27.3% | -18.8% |
| Market cap | $24.3B | – |
| P/E (trailing) | 33.0 | – |
| Dividend yield | 1.17% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Consumer Staples | 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 | CHD | SPY |
|---|---|---|
| 2022 | -20.4% | -18.2% |
| 2023 | +18.7% | +26.2% |
| 2024 | +12.0% | +24.9% |
| 2025 | -18.9% | +17.7% |
| 2026 | +23.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHD and SPY good diversifiers for each other?
Yes: at 0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CHD and SPY?
As of 2026-08-27, the correlation of weekly returns between CHD and SPY is 0.05 over 3 years, 0.12 over 1 year and 0.27 over 5 years.
Is SPY a good diversifier for CHD?
Yes: at 0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.05 mean?
A reading of 0.05 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: CHD correlations · SPY correlations
