JZXN vs SPY: Correlation
How closely do Jiuzi Holdings, Inc. (JZXN) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.19, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JZXN and SPY?
On 3 years of weekly data the JZXN/SPY correlation comes out at 0.19, weak. Recent behaviour matches the longer record: 0.20 over 1 year against 0.19 over 3. The 5-year figure is 0.19, and annualized covariance runs at 471.5 %².
SPY is close to the least connected end of JZXN's tracked universe, ranking #7 of 10. Correlation aside, the last 12 months split them widely, with SPY ahead by 117.2 points (-96.6% versus +20.6%). Risk is not evenly split, since JZXN carries 11.8 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.
JZXN vs SPY: side by side
| JZXN (Jiuzi Holdings, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -96.6% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 171.7% | 14.5% |
| Beta vs S&P 500 | 2.26 | 1.00 |
| Max drawdown (3Y) | -100.0% | -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 | JZXN | SPY |
|---|---|---|
| 2022 | -92.0% | -18.2% |
| 2023 | -58.7% | +26.2% |
| 2024 | -87.7% | +24.9% |
| 2025 | -96.9% | +17.7% |
| 2026 | -34.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JZXN and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between JZXN and SPY?
As of 2026-08-27, the correlation of weekly returns between JZXN and SPY is 0.19 over 3 years, 0.20 over 1 year and 0.19 over 5 years.
Is SPY a good diversifier for JZXN?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
What does a correlation of 0.19 mean?
On the −1 to +1 scale, 0.19 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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Hubs: JZXN correlations · SPY correlations
