CRML vs SPY: Correlation
How closely do Critical Metals Corp. (CRML) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.21, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRML and SPY?
On 3 years of weekly data the CRML/SPY correlation comes out at 0.21, weak. Little has changed lately, as the 1-year reading of 0.27 lands near the 3-year figure. The 5-year figure is 0.15, and annualized covariance runs at 440.3 %².
SPY is close to the least connected end of CRML's tracked universe, ranking #7 of 11. Their 12-month results are close: +23.5% for CRML against +20.6% for SPY. One caveat on sizing: CRML is 10.0 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.
CRML vs SPY: side by side
| CRML (Critical Metals Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +23.5% | +20.6% |
| 5-year return | -19.1% | +82.4% |
| Volatility (ann.) | 144.4% | 14.5% |
| Beta vs S&P 500 | 2.11 | 1.00 |
| Max drawdown (3Y) | -93.9% | -18.8% |
| Market cap | $1.2B | – |
| P/E (trailing) | – | – |
| 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 | CRML | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | +7.7% | +26.2% |
| 2024 | -38.3% | +24.9% |
| 2025 | +2.2% | +17.7% |
| 2026 | +15.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRML and SPY good diversifiers for each other?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CRML and SPY?
Using weekly returns as of 2026-08-27: 0.21 over 3 years, with 0.27 over the last year and 0.15 over 5 years.
Is SPY a good diversifier for CRML?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.21 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: CRML correlations · SPY correlations
