BAOS vs SPY: Correlation
Measured on weekly returns over the past three years, Baosheng Media Group Holdings Limited (BAOS) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAOS and SPY?
On 3 years of weekly data the BAOS/SPY correlation comes out at 0.27, weak. The relationship has been stable: the 1-year correlation (0.28) sits close to the 3-year figure. The 5-year figure is 0.30, and annualized covariance runs at 449.9 %².
Among the 12 assets we track against BAOS, SPY sits near the bottom by co-movement, at rank #9. The last year tells two different stories: SPY led by 105.1 percentage points, -84.5% for BAOS against +20.6% for SPY. One caveat on sizing: BAOS is 7.8 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.
BAOS vs SPY: side by side
| BAOS (Baosheng Media Group Holdings Limited) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -84.5% | +20.6% |
| 5-year return | -96.8% | +82.4% |
| Volatility (ann.) | 113.6% | 14.5% |
| Beta vs S&P 500 | 2.15 | 1.00 |
| Max drawdown (3Y) | -94.0% | -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 | BAOS | SPY |
|---|---|---|
| 2022 | -3.9% | -18.2% |
| 2023 | -30.0% | +26.2% |
| 2024 | -29.1% | +24.9% |
| 2025 | +6.6% | +17.7% |
| 2026 | -84.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAOS and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BAOS and SPY?
Using weekly returns as of 2026-08-27: 0.27 over 3 years, with 0.28 over the last year and 0.30 over 5 years.
Is SPY a good diversifier for BAOS?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 mean?
A reading of 0.27 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: BAOS correlations · SPY correlations
