CIK vs SPY: Correlation
Measured on weekly returns over the past three years, Credit Suisse Asset Management Income Fund, Inc. (CIK) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIK and SPY?
Across a 3-year window, the weekly returns of CIK and SPY correlate at 0.62, strong. The relationship has been stable: the 1-year correlation (0.65) sits close to the 3-year figure. Stretching to 5 years gives 0.55, with an annualized covariance of 103.9 %².
Within CIK's tracked universe of 11 assets, SPY comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 29.9 percentage points (-9.3% for CIK against +20.6% for SPY).
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.
CIK vs SPY: side by side
| CIK (Credit Suisse Asset Management Income Fund, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -9.3% | +20.6% |
| 5-year return | +11.7% | +82.4% |
| Volatility (ann.) | 11.5% | 14.5% |
| Beta vs S&P 500 | 0.50 | 1.00 |
| Max drawdown (3Y) | -15.4% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 17.4 | – |
| Dividend yield | 11.11% | 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 | CIK | SPY |
|---|---|---|
| 2022 | -19.0% | -18.2% |
| 2023 | +37.1% | +26.2% |
| 2024 | +1.2% | +24.9% |
| 2025 | +7.8% | +17.7% |
| 2026 | -8.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIK and SPY good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CIK and SPY?
As of 2026-08-27, the correlation of weekly returns between CIK and SPY is 0.62 over 3 years, 0.65 over 1 year and 0.55 over 5 years.
Is SPY a good diversifier for CIK?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 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: CIK correlations · SPY correlations
