LIEN vs SPY: Correlation
Chicago Atlantic BDC, Inc. (LIEN) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.13.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LIEN and SPY?
Across a 3-year window, the weekly returns of LIEN and SPY correlate at 0.13, weak. Recent behaviour matches the longer record: 0.16 over 1 year against 0.13 over 3. Stretching to 5 years gives -0.00, with an annualized covariance of 48.0 %².
By 3-year correlation, SPY places #6 of the 13 assets tracked against LIEN. The last year tells two different stories: SPY led by 15.4 percentage points, +5.2% for LIEN against +20.6% for SPY. Risk is not evenly split, since LIEN 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.
LIEN vs SPY: side by side
| LIEN (Chicago Atlantic BDC, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +5.2% | +20.6% |
| 5-year return | +11.0% | +82.4% |
| Volatility (ann.) | 26.5% | 14.5% |
| Beta vs S&P 500 | 0.23 | 1.00 |
| Max drawdown (3Y) | -22.5% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 7.3 | – |
| Dividend yield | 13.40% | 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 | LIEN | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | -1.1% | +26.2% |
| 2024 | +58.6% | +24.9% |
| 2025 | -4.0% | +17.7% |
| 2026 | +5.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LIEN and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
FAQ
What is the correlation between LIEN and SPY?
As of 2026-08-27, the correlation of weekly returns between LIEN and SPY is 0.13 over 3 years, 0.16 over 1 year and -0.00 over 5 years.
Is SPY a good diversifier for LIEN?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
What does a correlation of 0.13 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: LIEN correlations · SPY correlations
