CSPI vs QUAL: Correlation
Measured on weekly returns over the past three years, CSP Inc. (CSPI) and iShares MSCI USA Quality Factor ETF (QUAL) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSPI and QUAL?
Over the past 3 years, CSPI and QUAL moved with a correlation of 0.34, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.45 versus 0.34 over 3 years. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 353.8 %².
Among the 12 assets we track against CSPI, QUAL ranks #4 by 3-year correlation. The last year tells two different stories: QUAL led by 56.8 percentage points, -37.1% for CSPI against +19.7% for QUAL. Note the risk asymmetry: CSPI runs 5.3 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.
CSPI vs QUAL: side by side
| CSPI (CSP Inc.) | QUAL (iShares MSCI USA Quality Factor ETF) | |
|---|---|---|
| 1-year return | -37.1% | +19.7% |
| 5-year return | +76.7% | +68.0% |
| Volatility (ann.) | 74.2% | 14.0% |
| Beta vs S&P 500 | 1.67 | 0.93 |
| Max drawdown (3Y) | -73.4% | -18.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.52% | 0.86% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $46.5B |
| Sector / category | US Listed | ETF · US Style |
QUAL, iShares's Large Blend fund, carries $46.5B under management, 123 holdings, a 0.15% expense ratio, a 0.86% trailing dividend yield.
Year-by-year returns
| Year | CSPI | QUAL |
|---|---|---|
| 2022 | +8.0% | -20.5% |
| 2023 | +108.9% | +30.9% |
| 2024 | +66.1% | +22.3% |
| 2025 | -21.6% | +12.7% |
| 2026 | -36.5% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSPI and QUAL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CSPI and QUAL?
The CSPI/QUAL correlation stands at 0.34 on a 3-year window (1 year: 0.45, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is QUAL a good diversifier for CSPI?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cspi-vs-qual.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cspi-vs-qual/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CSPI correlations · QUAL correlations
