CLM vs SPY: Correlation
Measured on weekly returns over the past three years, Cornerstone Strategic Investment Fund, Inc. (CLM) 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 CLM and SPY?
Across a 3-year window, the weekly returns of CLM and SPY correlate at 0.62, strong. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Stretching to 5 years gives 0.58, with an annualized covariance of 179.0 %².
SPY is close to the least connected end of CLM's tracked universe, ranking #6 of 10. Correlation aside, the last 12 months split them widely, with SPY ahead by 22.0 points (-1.4% versus +20.6%).
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.
CLM vs SPY: side by side
| CLM (Cornerstone Strategic Investment Fund, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -1.4% | +20.6% |
| 5-year return | +31.9% | +82.4% |
| Volatility (ann.) | 19.8% | 14.5% |
| Beta vs S&P 500 | 0.86 | 1.00 |
| Max drawdown (3Y) | -23.9% | -18.8% |
| Market cap | $2.1B | – |
| P/E (trailing) | 6.1 | – |
| Dividend yield | 21.96% | 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 | CLM | SPY |
|---|---|---|
| 2022 | -36.7% | -18.2% |
| 2023 | +17.5% | +26.2% |
| 2024 | +41.6% | +24.9% |
| 2025 | +18.5% | +17.7% |
| 2026 | -9.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLM and SPY good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CLM and SPY?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.59 over the last year and 0.58 over 5 years.
Is SPY a good diversifier for CLM?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 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: CLM correlations · SPY correlations
