CIRC vs SPY: Correlation
Circle8 Group, Inc. (CIRC) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is -0.02.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIRC and SPY?
Across a 3-year window, the weekly returns of CIRC and SPY correlate at -0.02, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.16) runs below the 3-year figure (-0.02). Stretching to 5 years gives 0.06, with an annualized covariance of -50.9 %².
Within CIRC's tracked universe of 14 assets, SPY comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 104.1 points (-83.5% versus +20.6%). Note the risk asymmetry: CIRC runs 14.3 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.
CIRC vs SPY: side by side
| CIRC (Circle8 Group, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -83.5% | +20.6% |
| 5-year return | -99.7% | +82.4% |
| Volatility (ann.) | 207.6% | 14.5% |
| Beta vs S&P 500 | -0.24 | 1.00 |
| Max drawdown (3Y) | -98.0% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| 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 | CIRC | SPY |
|---|---|---|
| 2022 | -84.4% | -18.2% |
| 2023 | -64.5% | +26.2% |
| 2024 | +18.2% | +24.9% |
| 2025 | -72.7% | +17.7% |
| 2026 | -46.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIRC and SPY good diversifiers for each other?
Yes: at -0.02, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CIRC and SPY?
The CIRC/SPY correlation stands at -0.02 on a 3-year window (1 year: -0.16, 5 years: 0.06), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for CIRC?
Yes: at -0.02, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.02 mean?
A reading of -0.02 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: CIRC correlations · SPY correlations
