CROX vs SPY: Correlation
Crocs, Inc. (CROX) 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 CROX and SPY?
Across a 3-year window, the weekly returns of CROX and SPY correlate at 0.28, weak. Recent behaviour matches the longer record: 0.34 over 1 year against 0.28 over 3. Stretching to 5 years gives 0.40, with an annualized covariance of 194.9 %².
Out of 10 assets tracked against CROX, SPY lands near the bottom at #6. Their recent paths diverged sharply: over the last 12 months CROX outperformed by 19.9 percentage points (+40.5% for CROX against +20.6% for SPY). Note the risk asymmetry: CROX runs 3.3 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.
CROX vs SPY: side by side
| CROX (Crocs, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +40.5% | +20.6% |
| 5-year return | -16.9% | +82.4% |
| Volatility (ann.) | 47.7% | 14.5% |
| Beta vs S&P 500 | 0.93 | 1.00 |
| Max drawdown (3Y) | -54.0% | -18.8% |
| Market cap | $5.8B | – |
| P/E (trailing) | 11.0 | – |
| 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 | CROX | SPY |
|---|---|---|
| 2022 | -15.4% | -18.2% |
| 2023 | -13.9% | +26.2% |
| 2024 | +17.3% | +24.9% |
| 2025 | -21.9% | +17.7% |
| 2026 | +42.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CROX and SPY good diversifiers for each other?
Reasonably. At 0.28, CROX and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CROX and SPY?
The CROX/SPY correlation stands at 0.28 on a 3-year window (1 year: 0.34, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for CROX?
Reasonably. At 0.28, CROX and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 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: CROX correlations · SPY correlations
