CLBT vs SPY: Correlation
How closely do Cellebrite DI Ltd. (CLBT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLBT and SPY?
On 3 years of weekly data the CLBT/SPY correlation comes out at 0.27, weak. Recent behaviour matches the longer record: 0.20 over 1 year against 0.27 over 3. The 5-year figure is 0.31, and annualized covariance runs at 202.3 %².
By 3-year correlation, SPY places #7 of the 12 assets tracked against CLBT. The last year tells two different stories: SPY led by 46.0 percentage points, -25.4% for CLBT against +20.6% for SPY. One caveat on sizing: CLBT is 3.6 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.
CLBT vs SPY: side by side
| CLBT (Cellebrite DI Ltd.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -25.4% | +20.6% |
| 5-year return | +22.2% | +82.4% |
| Volatility (ann.) | 52.1% | 14.5% |
| Beta vs S&P 500 | 0.97 | 1.00 |
| Max drawdown (3Y) | -59.8% | -18.8% |
| Market cap | $3.1B | – |
| P/E (trailing) | 51.2 | – |
| 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 | CLBT | SPY |
|---|---|---|
| 2022 | -45.6% | -18.2% |
| 2023 | +98.6% | +26.2% |
| 2024 | +154.4% | +24.9% |
| 2025 | -18.2% | +17.7% |
| 2026 | -31.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLBT and SPY good diversifiers for each other?
Reasonably. At 0.27, CLBT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CLBT and SPY?
Using weekly returns as of 2026-08-27: 0.27 over 3 years, with 0.20 over the last year and 0.31 over 5 years.
Is SPY a good diversifier for CLBT?
Reasonably. At 0.27, CLBT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.27 mean?
On the −1 to +1 scale, 0.27 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: CLBT correlations · SPY correlations
