ECC vs SPY: Correlation
Eagle Point Credit Company Common Share of Beneficial (ECC) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECC and SPY?
On 3 years of weekly data the ECC/SPY correlation comes out at 0.34, moderate. Recent behaviour matches the longer record: 0.37 over 1 year against 0.34 over 3. The 5-year figure is 0.35, and annualized covariance runs at 130.2 %².
Among the 12 assets we track against ECC, SPY sits near the bottom by co-movement, at rank #8. The last year tells two different stories: SPY led by 52.3 percentage points, -31.7% for ECC against +20.6% for SPY. Risk is not evenly split, since ECC 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.
ECC vs SPY: side by side
| ECC (Eagle Point Credit Company Common Share of Beneficial) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -31.7% | +20.6% |
| 5-year return | -22.4% | +82.4% |
| Volatility (ann.) | 26.2% | 14.5% |
| Beta vs S&P 500 | 0.62 | 1.00 |
| Max drawdown (3Y) | -49.4% | -18.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 37.50% | 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 | ECC | SPY |
|---|---|---|
| 2022 | -11.7% | -18.2% |
| 2023 | +12.1% | +26.2% |
| 2024 | +13.4% | +24.9% |
| 2025 | -18.4% | +17.7% |
| 2026 | -21.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECC and SPY good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ECC and SPY?
As of 2026-08-27, the correlation of weekly returns between ECC and SPY is 0.34 over 3 years, 0.37 over 1 year and 0.35 over 5 years.
Is SPY a good diversifier for ECC?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: ECC correlations · SPY correlations
