CRF vs SPY: Correlation
Measured on weekly returns over the past three years, Cornerstone Total Return Fund, Inc. (The) (CRF) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRF and SPY?
On 3 years of weekly data the CRF/SPY correlation comes out at 0.62, strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.62 over 3. The 5-year figure is 0.56, and annualized covariance runs at 190.8 %².
By 3-year correlation, SPY places #6 of the 12 assets tracked against CRF. Correlation aside, the last 12 months split them widely, with SPY ahead by 22.3 points (-1.7% versus +20.6%).
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.
CRF vs SPY: side by side
| CRF (Cornerstone Total Return Fund, Inc. (The)) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -1.7% | +20.6% |
| 5-year return | +29.2% | +82.4% |
| Volatility (ann.) | 21.5% | 14.5% |
| Beta vs S&P 500 | 0.91 | 1.00 |
| Max drawdown (3Y) | -29.6% | -18.8% |
| Market cap | $1.1B | – |
| P/E (trailing) | 6.3 | – |
| Dividend yield | 21.80% | 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 | CRF | SPY |
|---|---|---|
| 2022 | -36.7% | -18.2% |
| 2023 | +19.4% | +26.2% |
| 2024 | +44.5% | +24.9% |
| 2025 | +12.5% | +17.7% |
| 2026 | -9.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRF and SPY good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CRF and SPY?
The CRF/SPY correlation stands at 0.62 on a 3-year window (1 year: 0.62, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for CRF?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 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: CRF correlations · SPY correlations
