CTNT vs SPY: Correlation
How closely do Cheetah Net Supply Chain Service Inc. (CTNT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.09, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTNT and SPY?
On 3 years of weekly data the CTNT/SPY correlation comes out at 0.09, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.17) than the 3-year average (0.09). The 5-year figure is n/a, and annualized covariance runs at 589.0 %².
By 3-year correlation, SPY places #11 of the 21 assets tracked against CTNT. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 120.2 percentage points (-99.6% for CTNT against +20.6% for SPY). Note the risk asymmetry: CTNT runs 31.8 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.
CTNT vs SPY: side by side
| CTNT (Cheetah Net Supply Chain Service Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -99.6% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 461.2% | 14.5% |
| Beta vs S&P 500 | 2.82 | 1.00 |
| Max drawdown (3Y) | -100.0% | -18.8% |
| Market cap | – | – |
| 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 | CTNT | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | -85.3% | +24.9% |
| 2025 | -61.4% | +17.7% |
| 2026 | -99.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTNT and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
FAQ
What is the correlation between CTNT and SPY?
Using weekly returns as of 2026-08-27: 0.09 over 3 years, with -0.17 over the last year and n/a over 5 years.
Is SPY a good diversifier for CTNT?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
What does a correlation of 0.09 mean?
On the −1 to +1 scale, 0.09 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: CTNT correlations · SPY correlations
