HTCO vs SPY: Correlation
High-Trend International Group - Class A (HTCO) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is -0.06.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTCO and SPY?
Over the past 3 years, HTCO and SPY moved with a correlation of -0.06, which is near zero, meaning they move largely independently. The past 12 months show a tighter link (0.05) than the 3-year average (-0.06). Over 5 years the correlation is -0.04, and the annualized covariance of weekly returns is -124.4 %².
Among the 15 assets we track against HTCO, SPY ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 98.4 points (-77.8% versus +20.6%). Note the risk asymmetry: HTCO runs 9.9 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.
HTCO vs SPY: side by side
| HTCO (High-Trend International Group - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -77.8% | +20.6% |
| 5-year return | -98.9% | +82.4% |
| Volatility (ann.) | 143.5% | 14.5% |
| Beta vs S&P 500 | -0.60 | 1.00 |
| Max drawdown (3Y) | -97.5% | -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 | HTCO | SPY |
|---|---|---|
| 2022 | -87.1% | -18.2% |
| 2023 | -63.0% | +26.2% |
| 2024 | +608.5% | +24.9% |
| 2025 | -89.9% | +17.7% |
| 2026 | -69.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTCO and SPY good diversifiers for each other?
Yes: at -0.06, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HTCO and SPY?
Using weekly returns as of 2026-08-27: -0.06 over 3 years, with 0.05 over the last year and -0.04 over 5 years.
Is SPY a good diversifier for HTCO?
Yes: at -0.06, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.06 mean?
A reading of -0.06 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/htco-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/htco-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HTCO correlations · SPY correlations
