CRI vs SPY: Correlation
Carter's, Inc. (CRI) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRI and SPY?
Across a 3-year window, the weekly returns of CRI and SPY correlate at 0.28, weak. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. Stretching to 5 years gives 0.40, with an annualized covariance of 165.9 %².
Among the 11 assets we track against CRI, SPY sits near the bottom by co-movement, at rank #7. Twelve-month performance is nearly a tie, at +20.8% for CRI and +20.6% for SPY. Risk is not evenly split, since CRI carries 2.8 times the volatility of the other side.
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.
CRI vs SPY: side by side
| CRI (Carter's, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +20.8% | +20.6% |
| 5-year return | -61.2% | +82.4% |
| Volatility (ann.) | 40.6% | 14.5% |
| Beta vs S&P 500 | 0.79 | 1.00 |
| Max drawdown (3Y) | -71.3% | -18.8% |
| Market cap | $1.2B | – |
| P/E (trailing) | 6.4 | – |
| Dividend yield | 2.92% | 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 | CRI | SPY |
|---|---|---|
| 2022 | -23.4% | -18.2% |
| 2023 | +4.9% | +26.2% |
| 2024 | -24.0% | +24.9% |
| 2025 | -37.4% | +17.7% |
| 2026 | +4.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRI and SPY good diversifiers for each other?
Reasonably. At 0.28, CRI and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CRI and SPY?
Using weekly returns as of 2026-08-27: 0.28 over 3 years, with 0.31 over the last year and 0.40 over 5 years.
Is SPY a good diversifier for CRI?
Reasonably. At 0.28, CRI and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: CRI correlations · SPY correlations
