FLYE vs SPG: Correlation
How closely do Fly-E Group, Inc. (FLYE) and Simon Property Group (SPG) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLYE and SPG?
Across a 3-year window, the weekly returns of FLYE and SPG correlate at -0.19, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.21 over 1 year against -0.19 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -607.2 %².
Within FLYE's tracked universe of 44 assets, SPG comes in at #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPG ahead by 115.3 points (-89.0% versus +26.3%). Note the risk asymmetry: FLYE runs 6.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FLYE vs SPG: side by side
| FLYE (Fly-E Group, Inc.) | SPG (Simon Property Group) | |
|---|---|---|
| 1-year return | -89.0% | +26.3% |
| 5-year return | n/a | +110.2% |
| Volatility (ann.) | 153.0% | 22.7% |
| Beta vs S&P 500 | 1.73 | 0.79 |
| Max drawdown (3Y) | -99.8% | -24.3% |
| Market cap | – | $81.6B |
| P/E (trailing) | – | 15.2 |
| Dividend yield | 0.00% | 4.05% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | FLYE | SPG |
|---|---|---|
| 2022 | – | -21.9% |
| 2023 | – | +29.2% |
| 2024 | – | +26.9% |
| 2025 | -92.1% | +12.9% |
| 2026 | -74.4% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLYE and SPG good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FLYE and SPG?
The FLYE/SPG correlation stands at -0.19 on a 3-year window (1 year: -0.21, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPG a good diversifier for FLYE?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/flye-vs-spg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/flye-vs-spg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLYE correlations · SPG correlations
