EHGO vs SPY: Correlation
Eshallgo Inc. - Class A (EHGO) and SPDR S&P 500 ETF Trust (SPY) show a negative relationship: their 3-year correlation of weekly returns is -0.15.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EHGO and SPY?
Over the past 3 years, EHGO and SPY moved with a correlation of -0.15, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.27) runs below the 3-year figure (-0.15). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -296.1 %².
Among the 66 assets we track against EHGO, SPY ranks #9 by 3-year correlation. The last year tells two different stories: SPY led by 110.7 percentage points, -90.1% for EHGO against +20.6% for SPY. Note the risk asymmetry: EHGO runs 8.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EHGO vs SPY: side by side
| EHGO (Eshallgo Inc. - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -90.1% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 127.9% | 14.5% |
| Beta vs S&P 500 | -1.42 | 1.00 |
| Max drawdown (3Y) | -98.5% | -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 | EHGO | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | – | +24.9% |
| 2025 | -94.4% | +17.7% |
| 2026 | -65.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EHGO and SPY good diversifiers for each other?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between EHGO and SPY?
Using weekly returns as of 2026-08-27: -0.15 over 3 years, with -0.27 over the last year and n/a over 5 years.
Is SPY a good diversifier for EHGO?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
What does a correlation of -0.15 mean?
A reading of -0.15 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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Hubs: EHGO correlations · SPY correlations
