ICCC vs SPY: Correlation
How closely do ImmuCell Corporation (ICCC) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.00, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICCC and SPY?
Across a 3-year window, the weekly returns of ICCC and SPY correlate at 0.00, near zero, meaning they move largely independently. The past 12 months show a tighter link (0.17) than the 3-year average (0.00). Stretching to 5 years gives 0.03, with an annualized covariance of 1.1 %².
Among the 13 assets we track against ICCC, SPY ranks #7 by 3-year correlation. The last year tells two different stories: ICCC led by 43.7 percentage points, +64.3% for ICCC against +20.6% for SPY. One caveat on sizing: ICCC is 3.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ICCC vs SPY: side by side
| ICCC (ImmuCell Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +64.3% | +20.6% |
| 5-year return | +10.8% | +82.4% |
| Volatility (ann.) | 45.2% | 14.5% |
| Beta vs S&P 500 | 0.01 | 1.00 |
| Max drawdown (3Y) | -40.0% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 143.1 | – |
| 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 | ICCC | SPY |
|---|---|---|
| 2022 | -23.8% | -18.2% |
| 2023 | -16.6% | +26.2% |
| 2024 | +1.2% | +24.9% |
| 2025 | +19.4% | +17.7% |
| 2026 | +62.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICCC and SPY good diversifiers for each other?
Yes: at 0.00, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ICCC and SPY?
Using weekly returns as of 2026-08-27: 0.00 over 3 years, with 0.17 over the last year and 0.03 over 5 years.
Is SPY a good diversifier for ICCC?
Yes: at 0.00, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.00 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: ICCC correlations · SPY correlations
