COSM vs SPY: Correlation
Measured on weekly returns over the past three years, Cosmos Health Inc. (COSM) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COSM and SPY?
Over the past 3 years, COSM and SPY moved with a correlation of 0.31, which is moderate. Recent behaviour matches the longer record: 0.37 over 1 year against 0.31 over 3. Over 5 years the correlation is -0.06, and the annualized covariance of weekly returns is 457.6 %².
Among the 10 assets we track against COSM, SPY sits near the bottom by co-movement, at rank #6. The last year tells two different stories: SPY led by 93.7 percentage points, -73.1% for COSM against +20.6% for SPY. Note the risk asymmetry: COSM runs 7.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
COSM vs SPY: side by side
| COSM (Cosmos Health Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -73.1% | +20.6% |
| 5-year return | -95.1% | +82.4% |
| Volatility (ann.) | 102.9% | 14.5% |
| Beta vs S&P 500 | 2.19 | 1.00 |
| Max drawdown (3Y) | -90.9% | -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 | COSM | SPY |
|---|---|---|
| 2022 | +35.3% | -18.2% |
| 2023 | -69.1% | +26.2% |
| 2024 | -52.6% | +24.9% |
| 2025 | -25.6% | +17.7% |
| 2026 | -56.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COSM and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between COSM and SPY?
The COSM/SPY correlation stands at 0.31 on a 3-year window (1 year: 0.37, 5 years: -0.06), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for COSM?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 mean?
A reading of 0.31 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: COSM correlations · SPY correlations
