CRSP vs SPY: Correlation
Measured on weekly returns over the past three years, CRISPR Therapeutics AG (CRSP) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRSP and SPY?
Across a 3-year window, the weekly returns of CRSP and SPY correlate at 0.52, moderate. The past 12 months show a weaker link (0.40) than the 3-year average (0.52). Stretching to 5 years gives 0.40, with an annualized covariance of 437.7 %².
By 3-year correlation, SPY places #10 of the 19 assets tracked against CRSP. On 12-month performance SPY holds a 9.7-point edge, +10.9% against +20.6%. One caveat on sizing: CRSP is 4.0 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.
CRSP vs SPY: side by side
| CRSP (CRISPR Therapeutics AG) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +10.9% | +20.6% |
| 5-year return | -50.8% | +82.4% |
| Volatility (ann.) | 58.5% | 14.5% |
| Beta vs S&P 500 | 2.10 | 1.00 |
| Max drawdown (3Y) | -64.9% | -18.8% |
| Market cap | $5.7B | – |
| 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 | CRSP | SPY |
|---|---|---|
| 2022 | -46.4% | -18.2% |
| 2023 | +54.0% | +26.2% |
| 2024 | -37.1% | +24.9% |
| 2025 | +33.2% | +17.7% |
| 2026 | +13.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRSP and SPY good diversifiers for each other?
Only partially. A correlation of 0.52 means CRSP and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CRSP and SPY?
As of 2026-08-27, the correlation of weekly returns between CRSP and SPY is 0.52 over 3 years, 0.40 over 1 year and 0.40 over 5 years.
Is SPY a good diversifier for CRSP?
Only partially. A correlation of 0.52 means CRSP and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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: CRSP correlations · SPY correlations
