CRMD vs SPY: Correlation
CorMedix Inc. (CRMD) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRMD and SPY?
Across a 3-year window, the weekly returns of CRMD and SPY correlate at 0.29, weak. The link has loosened recently: the 1-year correlation (0.15) runs below the 3-year figure (0.29). Stretching to 5 years gives 0.31, with an annualized covariance of 313.7 %².
By 3-year correlation, SPY places #6 of the 11 assets tracked against CRMD. Correlation aside, the last 12 months split them widely, with SPY ahead by 61.8 points (-41.2% versus +20.6%). Note the risk asymmetry: CRMD runs 5.1 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.
CRMD vs SPY: side by side
| CRMD (CorMedix Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -41.2% | +20.6% |
| 5-year return | +33.4% | +82.4% |
| Volatility (ann.) | 74.6% | 14.5% |
| Beta vs S&P 500 | 1.50 | 1.00 |
| Max drawdown (3Y) | -62.3% | -18.8% |
| Market cap | $0.6B | – |
| P/E (trailing) | 3.8 | – |
| Dividend yield | 0.00% | 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 | CRMD | SPY |
|---|---|---|
| 2022 | -7.3% | -18.2% |
| 2023 | -10.9% | +26.2% |
| 2024 | +115.4% | +24.9% |
| 2025 | +43.6% | +17.7% |
| 2026 | -28.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRMD and SPY good diversifiers for each other?
Reasonably. At 0.29, CRMD and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CRMD and SPY?
The CRMD/SPY correlation stands at 0.29 on a 3-year window (1 year: 0.15, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for CRMD?
Reasonably. At 0.29, CRMD and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.29 mean?
On the −1 to +1 scale, 0.29 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: CRMD correlations · SPY correlations
