CHRD vs SPY: Correlation
Chord Energy Corporation (CHRD) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.14.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRD and SPY?
On 3 years of weekly data the CHRD/SPY correlation comes out at 0.14, weak. Lately the two have drifted apart, with the 1-year correlation at -0.39 versus 0.14 over 3 years. The 5-year figure is 0.26, and annualized covariance runs at 71.5 %².
Out of 38 assets tracked against CHRD, SPY lands near the bottom at #34. Their recent paths diverged sharply: over the last 12 months CHRD outperformed by 20.0 percentage points (+40.6% for CHRD against +20.6% for SPY). Note the risk asymmetry: CHRD runs 2.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CHRD vs SPY: side by side
| CHRD (Chord Energy Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +40.6% | +20.6% |
| 5-year return | +164.0% | +82.4% |
| Volatility (ann.) | 35.4% | 14.5% |
| Beta vs S&P 500 | 0.34 | 1.00 |
| Max drawdown (3Y) | -53.9% | -18.8% |
| Market cap | $8.0B | – |
| P/E (trailing) | 9.5 | – |
| Dividend yield | 3.71% | 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 | CHRD | SPY |
|---|---|---|
| 2022 | +34.1% | -18.2% |
| 2023 | +31.7% | +26.2% |
| 2024 | -25.0% | +24.9% |
| 2025 | -16.4% | +17.7% |
| 2026 | +62.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRD and SPY good diversifiers for each other?
Yes. With a correlation of 0.14, CHRD and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CHRD and SPY?
The CHRD/SPY correlation stands at 0.14 on a 3-year window (1 year: -0.39, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for CHRD?
Yes. With a correlation of 0.14, CHRD and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.14 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/chrd-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/chrd-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHRD correlations · SPY correlations
