CXAI vs SPY: Correlation
How closely do CXApp Inc. (CXAI) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.03, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CXAI and SPY?
On 3 years of weekly data the CXAI/SPY correlation comes out at 0.03, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.05) sits close to the 3-year figure. The 5-year figure is 0.02, and annualized covariance runs at 1396.6 %².
SPY is close to the least connected end of CXAI's tracked universe, ranking #6 of 10. Their recent paths diverged sharply: over the last 12 months CXAI outperformed by 387.1 percentage points (+407.7% for CXAI against +20.6% for SPY). Risk is not evenly split, since CXAI carries 257.8 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.
CXAI vs SPY: side by side
| CXAI (CXApp Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +407.7% | +20.6% |
| 5-year return | -60.0% | +82.4% |
| Volatility (ann.) | 3738.0% | 14.5% |
| Beta vs S&P 500 | 6.69 | 1.00 |
| Max drawdown (3Y) | -98.3% | -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 | CXAI | SPY |
|---|---|---|
| 2022 | +0.8% | -18.2% |
| 2023 | -87.2% | +26.2% |
| 2024 | +41.1% | +24.9% |
| 2025 | -81.8% | +17.7% |
| 2026 | +1092.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CXAI and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.03 means the two rarely move for the same reasons.
FAQ
What is the correlation between CXAI and SPY?
The CXAI/SPY correlation stands at 0.03 on a 3-year window (1 year: 0.05, 5 years: 0.02), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for CXAI?
By historical standards, yes. A correlation of 0.03 means the two rarely move for the same reasons.
What does a correlation of 0.03 mean?
On the −1 to +1 scale, 0.03 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: CXAI correlations · SPY correlations
