CLRO vs SPY: Correlation
How closely do ClearOne, Inc. (CLRO) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.17, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLRO and SPY?
Across a 3-year window, the weekly returns of CLRO and SPY correlate at 0.17, weak. Lately the two have moved closer together, with the 1-year correlation at 0.35 versus 0.17 over 3 years. Stretching to 5 years gives 0.13, with an annualized covariance of 417.6 %².
Within CLRO's tracked universe of 13 assets, SPY comes in at #8 by 3-year correlation. The last year tells two different stories: CLRO led by 30.5 percentage points, +51.1% for CLRO against +20.6% for SPY. One caveat on sizing: CLRO is 11.4 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.
CLRO vs SPY: side by side
| CLRO (ClearOne, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +51.1% | +20.6% |
| 5-year return | -59.8% | +82.4% |
| Volatility (ann.) | 165.8% | 14.5% |
| Beta vs S&P 500 | 2.00 | 1.00 |
| Max drawdown (3Y) | -87.2% | -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 | CLRO | SPY |
|---|---|---|
| 2022 | +17.8% | -18.2% |
| 2023 | +26.6% | +26.2% |
| 2024 | +5.4% | +24.9% |
| 2025 | -56.5% | +17.7% |
| 2026 | +17.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLRO and SPY good diversifiers for each other?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CLRO and SPY?
As of 2026-08-27, the correlation of weekly returns between CLRO and SPY is 0.17 over 3 years, 0.35 over 1 year and 0.13 over 5 years.
Is SPY a good diversifier for CLRO?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.17 mean?
A reading of 0.17 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: CLRO correlations · SPY correlations
