BMRA vs SPY: Correlation
How closely do Biomerica, Inc. (BMRA) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.22, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMRA and SPY?
On 3 years of weekly data the BMRA/SPY correlation comes out at 0.22, weak. The relationship has been stable: the 1-year correlation (0.31) sits close to the 3-year figure. The 5-year figure is 0.18, and annualized covariance runs at 312.3 %².
Among the 10 assets we track against BMRA, SPY sits near the bottom by co-movement, at rank #6. Correlation aside, the last 12 months split them widely, with SPY ahead by 53.9 points (-33.3% versus +20.6%). One caveat on sizing: BMRA is 6.8 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.
BMRA vs SPY: side by side
| BMRA (Biomerica, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -33.3% | +20.6% |
| 5-year return | -94.0% | +82.4% |
| Volatility (ann.) | 97.9% | 14.5% |
| Beta vs S&P 500 | 1.49 | 1.00 |
| Max drawdown (3Y) | -88.7% | -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 | BMRA | SPY |
|---|---|---|
| 2022 | -13.9% | -18.2% |
| 2023 | -62.7% | +26.2% |
| 2024 | -76.0% | +24.9% |
| 2025 | +5.0% | +17.7% |
| 2026 | -16.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMRA and SPY good diversifiers for each other?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BMRA and SPY?
The BMRA/SPY correlation stands at 0.22 on a 3-year window (1 year: 0.31, 5 years: 0.18), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for BMRA?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: BMRA correlations · SPY correlations
