BGM vs SPY: Correlation
BGM Group Ltd. - Class A (BGM) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.07.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGM and SPY?
Over the past 3 years, BGM and SPY moved with a correlation of 0.07, which is near zero, meaning they move largely independently. Lately the two have moved closer together, with the 1-year correlation at 0.24 versus 0.07 over 3 years. Over 5 years the correlation is 0.05, and the annualized covariance of weekly returns is 104.7 %².
SPY is close to the least connected end of BGM's tracked universe, ranking #7 of 11. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 117.0 percentage points (-96.4% for BGM against +20.6% for SPY). Risk is not evenly split, since BGM carries 7.0 times the volatility of the other side.
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.
BGM vs SPY: side by side
| BGM (BGM Group Ltd. - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -96.4% | +20.6% |
| 5-year return | -98.5% | +82.4% |
| Volatility (ann.) | 101.6% | 14.5% |
| Beta vs S&P 500 | 0.50 | 1.00 |
| Max drawdown (3Y) | -98.5% | -18.8% |
| Market cap | $0.1B | – |
| 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 | BGM | SPY |
|---|---|---|
| 2022 | -72.1% | -18.2% |
| 2023 | +7.5% | +26.2% |
| 2024 | +119.2% | +24.9% |
| 2025 | -56.3% | +17.7% |
| 2026 | -92.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGM and SPY good diversifiers for each other?
Yes: at 0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BGM and SPY?
The BGM/SPY correlation stands at 0.07 on a 3-year window (1 year: 0.24, 5 years: 0.05), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for BGM?
Yes: at 0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.07 mean?
On the −1 to +1 scale, 0.07 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.
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Related comparisons
Hubs: BGM correlations · SPY correlations
