COHU vs SPY: Correlation
How closely do Cohu, Inc. (COHU) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COHU and SPY?
Over the past 3 years, COHU and SPY moved with a correlation of 0.56, which is moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.56 over 3. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 363.5 %².
Within COHU's tracked universe of 24 assets, SPY comes in at #16 by 3-year correlation. The last year tells two different stories: COHU led by 134.2 percentage points, +154.8% for COHU against +20.6% for SPY. Risk is not evenly split, since COHU carries 3.1 times the volatility of the other side.
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.
COHU vs SPY: side by side
| COHU (Cohu, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +154.8% | +20.6% |
| 5-year return | +41.3% | +82.4% |
| Volatility (ann.) | 44.8% | 14.5% |
| Beta vs S&P 500 | 1.74 | 1.00 |
| Max drawdown (3Y) | -64.7% | -18.8% |
| Market cap | $2.4B | – |
| 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 | COHU | SPY |
|---|---|---|
| 2022 | -15.9% | -18.2% |
| 2023 | +10.4% | +26.2% |
| 2024 | -24.6% | +24.9% |
| 2025 | -12.8% | +17.7% |
| 2026 | +122.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COHU and SPY good diversifiers for each other?
To a limited degree. At 0.56 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 COHU and SPY?
Using weekly returns as of 2026-08-27: 0.56 over 3 years, with 0.49 over the last year and 0.61 over 5 years.
Is SPY a good diversifier for COHU?
To a limited degree. At 0.56 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 0.56 mean?
A reading of 0.56 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: COHU correlations · SPY correlations
