MACI vs SPYG: Correlation
Melar Acquisition Corp. I - Class A (MACI) and SPDR Portfolio S&P 500 Growth ETF (SPYG) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MACI and SPYG?
On 3 years of weekly data the MACI/SPYG correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -7.6 %².
Within MACI's tracked universe of 71 assets, SPYG comes in at #25 by 3-year correlation. The last year tells two different stories: SPYG led by 18.0 percentage points, +4.4% for MACI against +22.4% for SPYG. Risk is not evenly split, since SPYG carries 9.0 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.
MACI vs SPYG: side by side
| MACI (Melar Acquisition Corp. I - Class A) | SPYG (SPDR Portfolio S&P 500 Growth ETF) | |
|---|---|---|
| 1-year return | +4.4% | +22.4% |
| 5-year return | n/a | +85.9% |
| Volatility (ann.) | 2.1% | 18.9% |
| Beta vs S&P 500 | -0.03 | 1.25 |
| Max drawdown (3Y) | -2.0% | -22.1% |
| Market cap | $0.2B | – |
| P/E (trailing) | 60.9 | – |
| Dividend yield | 0.00% | 0.49% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $52.2B |
| Sector / category | US Listed | ETF · US Style |
SPYG is a Large Growth fund from State Street Investment Management: $52.2B under management, 148 holdings, a 0.04% expense ratio, a 0.49% trailing dividend yield.
Year-by-year returns
| Year | MACI | SPYG |
|---|---|---|
| 2022 | – | -29.4% |
| 2023 | – | +30.0% |
| 2024 | – | +36.0% |
| 2025 | +5.7% | +22.1% |
| 2026 | +3.1% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MACI and SPYG good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between MACI and SPYG?
As of 2026-08-27, the correlation of weekly returns between MACI and SPYG is -0.18 over 3 years, -0.24 over 1 year and n/a over 5 years.
Is SPYG a good diversifier for MACI?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/maci-vs-spyg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/maci-vs-spyg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MACI correlations · SPYG correlations
