SPY vs ZCMD: Correlation
SPDR S&P 500 ETF Trust (SPY) and Zhongchao Inc. - Class A (ZCMD) show a near-zero relationship: their 3-year correlation of weekly returns is 0.06.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and ZCMD?
On 3 years of weekly data the SPY/ZCMD correlation comes out at 0.06, near zero, meaning they move largely independently. The link has tightened recently: the 1-year correlation (0.33) runs above the 3-year figure (0.06). The 5-year figure is 0.06, and annualized covariance runs at 122.3 %².
Within SPY's tracked universe of 4755 assets, ZCMD comes in at #4359 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 120.5 points (+20.6% versus -99.9%). One caveat on sizing: ZCMD is 9.8 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.
SPY vs ZCMD: side by side
| SPY (SPDR S&P 500 ETF Trust) | ZCMD (Zhongchao Inc. - Class A) | |
|---|---|---|
| 1-year return | +20.6% | -99.9% |
| 5-year return | +82.4% | -100.0% |
| Volatility (ann.) | 14.5% | 141.8% |
| Beta vs S&P 500 | 1.00 | 0.59 |
| Max drawdown (3Y) | -18.8% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.01% | 0.00% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
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 | SPY | ZCMD |
|---|---|---|
| 2022 | -18.2% | -35.4% |
| 2023 | +26.2% | -69.5% |
| 2024 | +24.9% | -53.8% |
| 2025 | +17.7% | -72.2% |
| 2026 | +13.7% | -99.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and ZCMD good diversifiers for each other?
By historical standards, yes. A correlation of 0.06 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPY and ZCMD?
Using weekly returns as of 2026-08-27: 0.06 over 3 years, with 0.33 over the last year and 0.06 over 5 years.
Is ZCMD a good diversifier for SPY?
By historical standards, yes. A correlation of 0.06 means the two rarely move for the same reasons.
What does a correlation of 0.06 mean?
A reading of 0.06 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-zcmd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-zcmd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · ZCMD correlations
