CPSS vs SPY: Correlation
Measured on weekly returns over the past three years, Consumer Portfolio Services, Inc. (CPSS) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.11, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPSS and SPY?
Over the past 3 years, CPSS and SPY moved with a correlation of 0.11, which is weak. The past 12 months show a tighter link (0.28) than the 3-year average (0.11). Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 58.4 %².
SPY is close to the least connected end of CPSS's tracked universe, ranking #7 of 10. The trailing year gives SPY the advantage: +14.9% versus +20.6%, a 5.7-point spread. Note the risk asymmetry: CPSS runs 2.5 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.
CPSS vs SPY: side by side
| CPSS (Consumer Portfolio Services, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +14.9% | +20.6% |
| 5-year return | +65.6% | +82.4% |
| Volatility (ann.) | 35.9% | 14.5% |
| Beta vs S&P 500 | 0.28 | 1.00 |
| Max drawdown (3Y) | -41.5% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 10.3 | – |
| 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 | CPSS | SPY |
|---|---|---|
| 2022 | -25.3% | -18.2% |
| 2023 | +5.9% | +26.2% |
| 2024 | +15.9% | +24.9% |
| 2025 | -14.1% | +17.7% |
| 2026 | +0.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPSS and SPY good diversifiers for each other?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CPSS and SPY?
The CPSS/SPY correlation stands at 0.11 on a 3-year window (1 year: 0.28, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for CPSS?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.11 mean?
A reading of 0.11 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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Hubs: CPSS correlations · SPY correlations
