CTVA vs SPY: Correlation
Corteva (CTVA) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTVA and SPY?
On 3 years of weekly data the CTVA/SPY correlation comes out at 0.23, weak. The past 12 months show a weaker link (-0.18) than the 3-year average (0.23). The 5-year figure is 0.37, and annualized covariance runs at 90.0 %².
Within CTVA's tracked universe of 34 assets, SPY comes in at #23 by 3-year correlation. The trailing year gives SPY the advantage: +10.9% versus +20.6%, a 9.7-point spread. The relationship is regime-dependent: the rolling one-year correlation swung between -0.15 and 0.57 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since CTVA carries 1.8 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.
CTVA vs SPY: side by side
| CTVA (Corteva) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +10.9% | +20.6% |
| 5-year return | +98.2% | +82.4% |
| Volatility (ann.) | 26.8% | 14.5% |
| Beta vs S&P 500 | 0.43 | 1.00 |
| Max drawdown (3Y) | -20.7% | -18.8% |
| Market cap | $55.0B | – |
| P/E (trailing) | 50.2 | – |
| Dividend yield | 0.87% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Materials | 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 | CTVA | SPY |
|---|---|---|
| 2022 | +25.6% | -18.2% |
| 2023 | -17.5% | +26.2% |
| 2024 | +20.2% | +24.9% |
| 2025 | +18.9% | +17.7% |
| 2026 | +23.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
CTVA represents 0.08% of SPY's portfolio, so part of any move in SPY is CTVA itself, and the correlation between them is partly mechanical.
Are CTVA and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CTVA and SPY?
As of 2026-08-27, the correlation of weekly returns between CTVA and SPY is 0.23 over 3 years, -0.18 over 1 year and 0.37 over 5 years.
Is SPY a good diversifier for CTVA?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.23 mean?
A reading of 0.23 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: CTVA correlations · SPY correlations
