CRCT vs SPY: Correlation
How closely do Cricut, Inc. (CRCT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.28, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRCT and SPY?
On 3 years of weekly data the CRCT/SPY correlation comes out at 0.28, weak. Lately the two have moved closer together, with the 1-year correlation at 0.45 versus 0.28 over 3 years. The 5-year figure is 0.31, and annualized covariance runs at 197.4 %².
SPY is close to the least connected end of CRCT's tracked universe, ranking #6 of 10. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 18.2 percentage points (+2.4% for CRCT against +20.6% for SPY). One caveat on sizing: CRCT is 3.4 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.
CRCT vs SPY: side by side
| CRCT (Cricut, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +2.4% | +20.6% |
| 5-year return | -70.1% | +82.4% |
| Volatility (ann.) | 49.2% | 14.5% |
| Beta vs S&P 500 | 0.94 | 1.00 |
| Max drawdown (3Y) | -53.2% | -18.8% |
| Market cap | $1.2B | – |
| P/E (trailing) | 14.2 | – |
| Dividend yield | 3.44% | 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 | CRCT | SPY |
|---|---|---|
| 2022 | -58.0% | -18.2% |
| 2023 | -20.1% | +26.2% |
| 2024 | -4.9% | +24.9% |
| 2025 | +0.1% | +17.7% |
| 2026 | +19.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRCT and SPY good diversifiers for each other?
Reasonably. At 0.28, CRCT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CRCT and SPY?
The CRCT/SPY correlation stands at 0.28 on a 3-year window (1 year: 0.45, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for CRCT?
Reasonably. At 0.28, CRCT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: CRCT correlations · SPY correlations
