RCON vs SPY: Correlation
How closely do Recon Technology, Ltd. - Class A (RCON) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.02, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RCON and SPY?
Across a 3-year window, the weekly returns of RCON and SPY correlate at 0.02, near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.05 lands near the 3-year figure. Stretching to 5 years gives 0.02, with an annualized covariance of 4605.2 %².
Among the 48 assets we track against RCON, SPY ranks #23 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 43.2 percentage points (-22.6% for RCON against +20.6% for SPY). Note the risk asymmetry: RCON runs 946.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
RCON vs SPY: side by side
| RCON (Recon Technology, Ltd. - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -22.6% | +20.6% |
| 5-year return | -97.1% | +82.4% |
| Volatility (ann.) | 13728.9% | 14.5% |
| Beta vs S&P 500 | 22.04 | 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 | RCON | SPY |
|---|---|---|
| 2022 | -3.8% | -18.2% |
| 2023 | -81.7% | +26.2% |
| 2024 | -49.5% | +24.9% |
| 2025 | -24.4% | +17.7% |
| 2026 | +10.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RCON and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.02 means the two rarely move for the same reasons.
FAQ
What is the correlation between RCON and SPY?
The RCON/SPY correlation stands at 0.02 on a 3-year window (1 year: 0.05, 5 years: 0.02), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for RCON?
By historical standards, yes. A correlation of 0.02 means the two rarely move for the same reasons.
What does a correlation of 0.02 mean?
On the −1 to +1 scale, 0.02 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/rcon-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rcon-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RCON correlations · SPY correlations
