OCCI vs SPY: Correlation
How closely do OFS Credit Company, Inc. - Closed End Fund (OCCI) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OCCI and SPY?
On 3 years of weekly data the OCCI/SPY correlation comes out at 0.34, moderate. Recent behaviour matches the longer record: 0.28 over 1 year against 0.34 over 3. The 5-year figure is 0.28, and annualized covariance runs at 158.2 %².
Out of 11 assets tracked against OCCI, SPY lands near the bottom at #7. The last year tells two different stories: SPY led by 63.5 percentage points, -42.9% for OCCI against +20.6% for SPY. Risk is not evenly split, since OCCI carries 2.2 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.
OCCI vs SPY: side by side
| OCCI (OFS Credit Company, Inc. - Closed End Fund) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -42.9% | +20.6% |
| 5-year return | -47.0% | +82.4% |
| Volatility (ann.) | 32.5% | 14.5% |
| Beta vs S&P 500 | 0.76 | 1.00 |
| Max drawdown (3Y) | -56.1% | -18.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 47.53% | 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 | OCCI | SPY |
|---|---|---|
| 2022 | -25.8% | -18.2% |
| 2023 | -1.3% | +26.2% |
| 2024 | +31.4% | +24.9% |
| 2025 | -14.4% | +17.7% |
| 2026 | -36.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OCCI and SPY good diversifiers for each other?
Reasonably. At 0.34, OCCI and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between OCCI and SPY?
The OCCI/SPY correlation stands at 0.34 on a 3-year window (1 year: 0.28, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for OCCI?
Reasonably. At 0.34, OCCI and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 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: OCCI correlations · SPY correlations
