CULP vs SPY: Correlation
Measured on weekly returns over the past three years, Culp, Inc. (CULP) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.22, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CULP and SPY?
Over the past 3 years, CULP and SPY moved with a correlation of 0.22, which is weak. Little has changed lately, as the 1-year reading of 0.24 lands near the 3-year figure. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 124.8 %².
SPY is close to the least connected end of CULP's tracked universe, ranking #7 of 11. The last year tells two different stories: SPY led by 38.5 percentage points, -17.9% for CULP against +20.6% for SPY. Risk is not evenly split, since CULP carries 2.7 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.
CULP vs SPY: side by side
| CULP (Culp, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -17.9% | +20.6% |
| 5-year return | -73.3% | +82.4% |
| Volatility (ann.) | 39.5% | 14.5% |
| Beta vs S&P 500 | 0.60 | 1.00 |
| Max drawdown (3Y) | -58.6% | -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 | CULP | SPY |
|---|---|---|
| 2022 | -50.4% | -18.2% |
| 2023 | +26.1% | +26.2% |
| 2024 | +1.4% | +24.9% |
| 2025 | -39.4% | +17.7% |
| 2026 | -3.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CULP and SPY good diversifiers for each other?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CULP and SPY?
The CULP/SPY correlation stands at 0.22 on a 3-year window (1 year: 0.24, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for CULP?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.22 mean?
On the −1 to +1 scale, 0.22 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: CULP correlations · SPY correlations
