CRWD vs SPYG: Correlation
How closely do CrowdStrike (CRWD) and SPDR Portfolio S&P 500 Growth ETF (SPYG) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRWD and SPYG?
Over the past 3 years, CRWD and SPYG moved with a correlation of 0.60, which is strong. The past 12 months show a weaker link (0.45) than the 3-year average (0.60). Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 568.9 %².
Within CRWD's tracked universe of 31 assets, SPYG comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CRWD outperformed by 93.4 percentage points (+115.8% for CRWD against +22.4% for SPYG). Across three years, the rolling one-year figure varied moderately, from 0.41 to 0.76. One caveat on sizing: CRWD is 2.7 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.
CRWD vs SPYG: side by side
| CRWD (CrowdStrike) | SPYG (SPDR Portfolio S&P 500 Growth ETF) | |
|---|---|---|
| 1-year return | +115.8% | +22.4% |
| 5-year return | +218.4% | +85.9% |
| Volatility (ann.) | 50.2% | 18.9% |
| Beta vs S&P 500 | 1.87 | 1.25 |
| Max drawdown (3Y) | -44.4% | -22.1% |
| Market cap | $233.4B | – |
| P/E (trailing) | 3256.6 | – |
| Dividend yield | 0.00% | 0.49% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $52.2B |
| Sector / category | Information Technology | ETF · US Style |
SPYG is a Large Growth fund from State Street Investment Management: $52.2B under management, 148 holdings, a 0.04% expense ratio, a 0.49% trailing dividend yield.
Year-by-year returns
| Year | CRWD | SPYG |
|---|---|---|
| 2022 | -48.6% | -29.4% |
| 2023 | +142.5% | +30.0% |
| 2024 | +34.0% | +36.0% |
| 2025 | +37.0% | +22.1% |
| 2026 | +94.5% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.54% of SPYG is CRWD itself, so the fund partly moves with the stock by construction.
Are CRWD and SPYG good diversifiers for each other?
To a limited degree. At 0.60 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CRWD and SPYG?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.45 over the last year and 0.60 over 5 years.
Is SPYG a good diversifier for CRWD?
To a limited degree. At 0.60 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/crwd-vs-spyg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crwd-vs-spyg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CRWD correlations · SPYG correlations
