CTRM vs SPY: Correlation
Castor Maritime Inc. (CTRM) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.10.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTRM and SPY?
Over the past 3 years, CTRM and SPY moved with a correlation of 0.10, which is weak. The past 12 months show a tighter link (0.27) than the 3-year average (0.10). Over 5 years the correlation is 0.22, and the annualized covariance of weekly returns is 72.7 %².
Among the 12 assets we track against CTRM, SPY ranks #7 by 3-year correlation. On 12-month performance SPY holds a 8.5-point edge, +12.1% against +20.6%. One caveat on sizing: CTRM is 3.6 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.
CTRM vs SPY: side by side
| CTRM (Castor Maritime Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +12.1% | +20.6% |
| 5-year return | -89.2% | +82.4% |
| Volatility (ann.) | 51.7% | 14.5% |
| Beta vs S&P 500 | 0.35 | 1.00 |
| Max drawdown (3Y) | -72.3% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 0.7 | – |
| 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 | CTRM | SPY |
|---|---|---|
| 2022 | -21.1% | -18.2% |
| 2023 | -62.1% | +26.2% |
| 2024 | -35.3% | +24.9% |
| 2025 | -24.7% | +17.7% |
| 2026 | +15.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTRM and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
FAQ
What is the correlation between CTRM and SPY?
The CTRM/SPY correlation stands at 0.10 on a 3-year window (1 year: 0.27, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for CTRM?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
What does a correlation of 0.10 mean?
On the −1 to +1 scale, 0.10 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: CTRM correlations · SPY correlations
