CSCO vs SPY: Correlation
How closely do Cisco (CSCO) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSCO and SPY?
Across a 3-year window, the weekly returns of CSCO and SPY correlate at 0.46, moderate. The past 12 months show a weaker link (0.29) than the 3-year average (0.46). Stretching to 5 years gives 0.51, with an annualized covariance of 174.5 %².
Among the 30 assets we track against CSCO, SPY ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CSCO outperformed by 46.7 percentage points (+67.3% for CSCO against +20.6% for SPY). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.22 to 0.83. One caveat on sizing: CSCO is 1.8 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.
CSCO vs SPY: side by side
| CSCO (Cisco) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +67.3% | +20.6% |
| 5-year return | +118.1% | +82.4% |
| Volatility (ann.) | 26.4% | 14.5% |
| Beta vs S&P 500 | 0.84 | 1.00 |
| Max drawdown (3Y) | -20.2% | -18.8% |
| Market cap | $442.0B | – |
| P/E (trailing) | 33.8 | – |
| Dividend yield | 1.48% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Information Technology | 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 | CSCO | SPY |
|---|---|---|
| 2022 | -22.5% | -18.2% |
| 2023 | +9.3% | +26.2% |
| 2024 | +21.0% | +24.9% |
| 2025 | +33.5% | +17.7% |
| 2026 | +47.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
CSCO represents 0.67% of SPY's portfolio, so part of any move in SPY is CSCO itself, and the correlation between them is partly mechanical.
Are CSCO and SPY good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CSCO and SPY?
As of 2026-08-27, the correlation of weekly returns between CSCO and SPY is 0.46 over 3 years, 0.29 over 1 year and 0.51 over 5 years.
Is SPY a good diversifier for CSCO?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
A reading of 0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CSCO correlations · SPY correlations
