CRH vs SPY: Correlation
How closely do CRH plc (CRH) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRH and SPY?
On 3 years of weekly data the CRH/SPY correlation comes out at 0.62, strong. The link has loosened recently: the 1-year correlation (0.48) runs below the 3-year figure (0.62). The 5-year figure is 0.61, and annualized covariance runs at 264.2 %².
By 3-year correlation, SPY places #16 of the 40 assets tracked against CRH. Correlation aside, the last 12 months split them widely, with SPY ahead by 35.2 points (-14.6% versus +20.6%). Across three years, the rolling one-year figure varied moderately, from 0.48 to 0.75. One caveat on sizing: CRH is 2.0 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.
CRH vs SPY: side by side
| CRH (CRH plc) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -14.6% | +20.6% |
| 5-year return | +104.1% | +82.4% |
| Volatility (ann.) | 29.7% | 14.5% |
| Beta vs S&P 500 | 1.26 | 1.00 |
| Max drawdown (3Y) | -28.4% | -18.8% |
| Market cap | $63.6B | – |
| P/E (trailing) | 17.2 | – |
| Dividend yield | 1.57% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Materials | 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 | CRH | SPY |
|---|---|---|
| 2022 | -20.5% | -18.2% |
| 2023 | +81.3% | +26.2% |
| 2024 | +35.9% | +24.9% |
| 2025 | +35.9% | +17.7% |
| 2026 | -22.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
CRH represents 0.1% of SPY's portfolio, so part of any move in SPY is CRH itself, and the correlation between them is partly mechanical.
Are CRH 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 CRH and SPY?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.48 over the last year and 0.61 over 5 years.
Is SPY a good diversifier for CRH?
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?
A reading of 0.62 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: CRH correlations · SPY correlations
