CSPI vs SPY: Correlation
CSP Inc. (CSPI) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSPI and SPY?
Over the past 3 years, CSPI and SPY moved with a correlation of 0.32, which is moderate. The past 12 months show a tighter link (0.43) than the 3-year average (0.32). Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 348.3 %².
By 3-year correlation, SPY places #6 of the 12 assets tracked against CSPI. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 57.7 percentage points (-37.1% for CSPI against +20.6% for SPY). Risk is not evenly split, since CSPI carries 5.1 times the volatility of the other side.
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 SPY: side by side
| CSPI (CSP Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -37.1% | +20.6% |
| 5-year return | +76.7% | +82.4% |
| Volatility (ann.) | 74.2% | 14.5% |
| Beta vs S&P 500 | 1.67 | 1.00 |
| Max drawdown (3Y) | -73.4% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.52% | 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 | CSPI | SPY |
|---|---|---|
| 2022 | +8.0% | -18.2% |
| 2023 | +108.9% | +26.2% |
| 2024 | +66.1% | +24.9% |
| 2025 | -21.6% | +17.7% |
| 2026 | -36.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSPI and SPY good diversifiers for each other?
Reasonably. At 0.32, CSPI and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CSPI and SPY?
Using weekly returns as of 2026-08-27: 0.32 over 3 years, with 0.43 over the last year and 0.26 over 5 years.
Is SPY a good diversifier for CSPI?
Reasonably. At 0.32, CSPI and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.32 mean?
On the −1 to +1 scale, 0.32 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: CSPI correlations · SPY correlations
