MACI vs SPY: Correlation
Melar Acquisition Corp. I - Class A (MACI) and SPDR S&P 500 ETF Trust (SPY) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MACI and SPY?
On 3 years of weekly data the MACI/SPY correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.24 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -5.5 %².
By 3-year correlation, SPY places #18 of the 71 assets tracked against MACI. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 16.2 percentage points (+4.4% for MACI against +20.6% for SPY). One caveat on sizing: SPY is 6.9 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.
MACI vs SPY: side by side
| MACI (Melar Acquisition Corp. I - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +4.4% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 2.1% | 14.5% |
| Beta vs S&P 500 | -0.03 | 1.00 |
| Max drawdown (3Y) | -2.0% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 60.9 | – |
| 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 | MACI | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | – | +24.9% |
| 2025 | +5.7% | +17.7% |
| 2026 | +3.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MACI and SPY good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between MACI and SPY?
As of 2026-08-27, the correlation of weekly returns between MACI and SPY is -0.17 over 3 years, -0.24 over 1 year and n/a over 5 years.
Is SPY a good diversifier for MACI?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
A reading of -0.17 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: MACI correlations · SPY correlations
