CLAR vs SPY: Correlation
Measured on weekly returns over the past three years, Clarus Corporation (CLAR) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLAR and SPY?
On 3 years of weekly data the CLAR/SPY correlation comes out at 0.34, moderate. The past 12 months show a tighter link (0.49) than the 3-year average (0.34). The 5-year figure is 0.38, and annualized covariance runs at 215.8 %².
By 3-year correlation, SPY places #6 of the 11 assets tracked against CLAR. The last year tells two different stories: SPY led by 15.3 percentage points, +5.3% for CLAR against +20.6% for SPY. One caveat on sizing: CLAR is 3.0 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.
CLAR vs SPY: side by side
| CLAR (Clarus Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +5.3% | +20.6% |
| 5-year return | -85.0% | +82.4% |
| Volatility (ann.) | 44.2% | 14.5% |
| Beta vs S&P 500 | 1.03 | 1.00 |
| Max drawdown (3Y) | -64.4% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.68% | 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 | CLAR | SPY |
|---|---|---|
| 2022 | -71.5% | -18.2% |
| 2023 | -10.8% | +26.2% |
| 2024 | -33.4% | +24.9% |
| 2025 | -23.6% | +17.7% |
| 2026 | +15.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLAR and SPY good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CLAR and SPY?
The CLAR/SPY correlation stands at 0.34 on a 3-year window (1 year: 0.49, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for CLAR?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 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: CLAR correlations · SPY correlations
