Hi,
D.L. Webb has described correlations between the moduli of compressibility and SPT test results in a paper called "Settlement of structures on deep alluvial sandy sediments in Durban, South Africa". This paper was written in the late 1970's. Unfortunately I do not know the date or publication.
In the paper, Webb gives the relationship between the equivalent modulus of elasticity (E') and SPT (N) as
E'=(10/3)(N+5)
for NC clayey sands (in the SW Casagrande Group, with a PI of <15) below the water table. Note that where N>15 Webb applied the Terzaghi correction (ie Nc= 15 + 0.5(N-15)).
Webb does stress that the equation is semi-emperical and that it provides only a crude approach to settlement prediction because of the uncertainties relating to stress distribution, stress history and overburden pressure. On the basis of experience Webb believes that the above equation allows settlement (of shallow foundations) to be estimated within 30 to 35%. Webb also states that calculation of settlement using SPT N values usually provides an over estimate of settlement.
I know you were asking after clays, but I hope that the above is of assistance. It has been useful to me in the past, on soils that I am familiar with.
Kevin01