CR vs SPY: Correlation
Measured on weekly returns over the past three years, Crane Company (CR) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CR and SPY?
Over the past 3 years, CR and SPY moved with a correlation of 0.52, which is moderate. The past 12 months show a weaker link (0.38) than the 3-year average (0.52). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 235.8 %².
Within CR's tracked universe of 17 assets, SPY comes in at #10 by 3-year correlation. On 12-month performance SPY holds a 12.2-point edge, +8.4% against +20.6%. Note the risk asymmetry: CR runs 2.2 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.
CR vs SPY: side by side
| CR (Crane Company) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +8.4% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 31.2% | 14.5% |
| Beta vs S&P 500 | 1.13 | 1.00 |
| Max drawdown (3Y) | -28.0% | -18.8% |
| Market cap | $12.1B | – |
| P/E (trailing) | 36.6 | – |
| Dividend yield | 0.46% | 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 | CR | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | +29.2% | +24.9% |
| 2025 | +22.2% | +17.7% |
| 2026 | +13.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CR and SPY good diversifiers for each other?
To a limited degree. At 0.52 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 CR and SPY?
As of 2026-08-27, the correlation of weekly returns between CR and SPY is 0.52 over 3 years, 0.38 over 1 year and n/a over 5 years.
Is SPY a good diversifier for CR?
To a limited degree. At 0.52 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 0.52 mean?
A reading of 0.52 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: CR correlations · SPY correlations
