QCLS vs SPY: Correlation
Q/C Technologies, Inc. (QCLS) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.11.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QCLS and SPY?
Over the past 3 years, QCLS and SPY moved with a correlation of 0.11, which is weak. The relationship has been stable: the 1-year correlation (0.19) sits close to the 3-year figure. Over 5 years the correlation is 0.17, and the annualized covariance of weekly returns is 180.9 %².
Within QCLS's tracked universe of 16 assets, SPY comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 94.3 points (-73.7% versus +20.6%). One caveat on sizing: QCLS is 7.5 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.
QCLS vs SPY: side by side
| QCLS (Q/C Technologies, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -73.7% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 108.9% | 14.5% |
| Beta vs S&P 500 | 0.87 | 1.00 |
| Max drawdown (3Y) | -99.9% | -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 | QCLS | SPY |
|---|---|---|
| 2022 | -81.0% | -18.2% |
| 2023 | -77.5% | +26.2% |
| 2024 | -85.2% | +24.9% |
| 2025 | -96.5% | +17.7% |
| 2026 | -40.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QCLS and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.11 means the two rarely move for the same reasons.
FAQ
What is the correlation between QCLS and SPY?
The QCLS/SPY correlation stands at 0.11 on a 3-year window (1 year: 0.19, 5 years: 0.17), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for QCLS?
By historical standards, yes. A correlation of 0.11 means the two rarely move for the same reasons.
What does a correlation of 0.11 mean?
A reading of 0.11 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: QCLS correlations · SPY correlations
