GMM vs SPY: Correlation
Global Mofy AI Limited - Class A (GMM) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.04.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GMM and SPY?
Across a 3-year window, the weekly returns of GMM and SPY correlate at 0.04, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.11) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 616.1 %².
Within GMM's tracked universe of 21 assets, SPY comes in at #16 by 3-year correlation. The last year tells two different stories: SPY led by 118.1 percentage points, -97.5% for GMM against +20.6% for SPY. Risk is not evenly split, since GMM carries 75.7 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.
GMM vs SPY: side by side
| GMM (Global Mofy AI Limited - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -97.5% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 1098.3% | 14.5% |
| Beta vs S&P 500 | 2.95 | 1.00 |
| Max drawdown (3Y) | -99.7% | -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 | GMM | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | -30.5% | +24.9% |
| 2025 | -69.6% | +17.7% |
| 2026 | -95.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GMM and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.04 means the two rarely move for the same reasons.
FAQ
What is the correlation between GMM and SPY?
Using weekly returns as of 2026-08-27: 0.04 over 3 years, with 0.11 over the last year and n/a over 5 years.
Is SPY a good diversifier for GMM?
By historical standards, yes. A correlation of 0.04 means the two rarely move for the same reasons.
What does a correlation of 0.04 mean?
On the −1 to +1 scale, 0.04 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: GMM correlations · SPY correlations
