SJ vs SPY: Correlation
How closely do Scienjoy Holding Corporation - Class A (SJ) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of -0.04, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SJ and SPY?
Over the past 3 years, SJ and SPY moved with a correlation of -0.04, which is near zero, meaning they move largely independently. Recent behaviour matches the longer record: -0.02 over 1 year against -0.04 over 3. Over 5 years the correlation is 0.04, and the annualized covariance of weekly returns is -54.6 %².
Among the 10 assets we track against SJ, SPY sits near the bottom by co-movement, at rank #7. On 12-month performance SJ holds a 13.8-point edge, +34.4% against +20.6%. One caveat on sizing: SJ is 5.9 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.
SJ vs SPY: side by side
| SJ (Scienjoy Holding Corporation - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +34.4% | +20.6% |
| 5-year return | -79.3% | +82.4% |
| Volatility (ann.) | 85.6% | 14.5% |
| Beta vs S&P 500 | -0.26 | 1.00 |
| Max drawdown (3Y) | -87.8% | -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 | SJ | SPY |
|---|---|---|
| 2022 | -65.3% | -18.2% |
| 2023 | +76.6% | +26.2% |
| 2024 | -70.1% | +24.9% |
| 2025 | -33.2% | +17.7% |
| 2026 | +41.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SJ and SPY good diversifiers for each other?
By historical standards, yes. A correlation of -0.04 means the two rarely move for the same reasons.
FAQ
What is the correlation between SJ and SPY?
Using weekly returns as of 2026-08-27: -0.04 over 3 years, with -0.02 over the last year and 0.04 over 5 years.
Is SPY a good diversifier for SJ?
By historical standards, yes. A correlation of -0.04 means the two rarely move for the same reasons.
What does a correlation of -0.04 mean?
A reading of -0.04 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: SJ correlations · SPY correlations
