CNTY vs SPY: Correlation
Measured on weekly returns over the past three years, Century Casinos, Inc. (CNTY) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNTY and SPY?
On 3 years of weekly data the CNTY/SPY correlation comes out at 0.30, moderate. Little has changed lately, as the 1-year reading of 0.32 lands near the 3-year figure. The 5-year figure is 0.43, and annualized covariance runs at 249.9 %².
Out of 10 assets tracked against CNTY, SPY lands near the bottom at #6. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 75.0 percentage points (-54.4% for CNTY against +20.6% for SPY). One caveat on sizing: CNTY is 4.0 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.
CNTY vs SPY: side by side
| CNTY (Century Casinos, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -54.4% | +20.6% |
| 5-year return | -90.7% | +82.4% |
| Volatility (ann.) | 57.5% | 14.5% |
| Beta vs S&P 500 | 1.20 | 1.00 |
| Max drawdown (3Y) | -82.3% | -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 | CNTY | SPY |
|---|---|---|
| 2022 | -42.3% | -18.2% |
| 2023 | -30.6% | +26.2% |
| 2024 | -33.6% | +24.9% |
| 2025 | -59.0% | +17.7% |
| 2026 | -7.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNTY and SPY good diversifiers for each other?
Reasonably. At 0.30, CNTY and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CNTY and SPY?
Using weekly returns as of 2026-08-27: 0.30 over 3 years, with 0.32 over the last year and 0.43 over 5 years.
Is SPY a good diversifier for CNTY?
Reasonably. At 0.30, CNTY and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 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: CNTY correlations · SPY correlations
