CHGA vs SPY: Correlation
Change Agents Corporation (CHGA) 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 CHGA and SPY?
Over the past 3 years, CHGA and SPY moved with a correlation of 0.09, which is near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.04 lands near the 3-year figure. Over 5 years the correlation is 0.08, and the annualized covariance of weekly returns is 200.5 %².
SPY is close to the least connected end of CHGA's tracked universe, ranking #7 of 10. Correlation aside, the last 12 months split them widely, with SPY ahead by 114.3 points (-93.7% versus +20.6%). One caveat on sizing: CHGA is 10.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CHGA vs SPY: side by side
| CHGA (Change Agents Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -93.7% | +20.6% |
| 5-year return | -99.9% | +82.4% |
| Volatility (ann.) | 148.9% | 14.5% |
| Beta vs S&P 500 | 0.96 | 1.00 |
| Max drawdown (3Y) | -99.3% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 0.1 | – |
| 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 | CHGA | SPY |
|---|---|---|
| 2022 | -36.6% | -18.2% |
| 2023 | -90.7% | +26.2% |
| 2024 | -55.0% | +24.9% |
| 2025 | -63.2% | +17.7% |
| 2026 | -89.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHGA 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 CHGA and SPY?
The CHGA/SPY correlation stands at 0.09 on a 3-year window (1 year: 0.04, 5 years: 0.08), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for CHGA?
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/chga-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/chga-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHGA correlations · SPY correlations
