CISO vs SPY: Correlation
CISO Global, Inc. (CISO) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CISO and SPY?
Over the past 3 years, CISO and SPY moved with a correlation of 0.16, which is weak. The link has tightened recently: the 1-year correlation (0.34) runs above the 3-year figure (0.16). Over 5 years the correlation is 0.14, and the annualized covariance of weekly returns is 292.9 %².
SPY is close to the least connected end of CISO's tracked universe, ranking #7 of 10. The last year tells two different stories: SPY led by 96.6 percentage points, -76.0% for CISO against +20.6% for SPY. Risk is not evenly split, since CISO carries 9.0 times the volatility of the other side.
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.
CISO vs SPY: side by side
| CISO (CISO Global, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -76.0% | +20.6% |
| 5-year return | -99.7% | +82.4% |
| Volatility (ann.) | 130.3% | 14.5% |
| Beta vs S&P 500 | 1.40 | 1.00 |
| Max drawdown (3Y) | -93.9% | -18.8% |
| Market cap | – | – |
| 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 | CISO | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | -96.0% | +26.2% |
| 2024 | +126.8% | +24.9% |
| 2025 | -86.2% | +17.7% |
| 2026 | -53.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CISO and SPY good diversifiers for each other?
Yes: at 0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CISO and SPY?
Using weekly returns as of 2026-08-27: 0.16 over 3 years, with 0.34 over the last year and 0.14 over 5 years.
Is SPY a good diversifier for CISO?
Yes: at 0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.16 mean?
On the −1 to +1 scale, 0.16 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.
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Related comparisons
Hubs: CISO correlations · SPY correlations
