MAIA vs SPY: Correlation
Measured on weekly returns over the past three years, MAIA Biotechnology, Inc. (MAIA) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.22, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAIA and SPY?
Over the past 3 years, MAIA and SPY moved with a correlation of 0.22, which is weak. The past 12 months show a tighter link (0.36) than the 3-year average (0.22). Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 282.0 %².
Among the 11 assets we track against MAIA, SPY ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 37.0 points (-16.4% versus +20.6%). Note the risk asymmetry: MAIA runs 6.3 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.
MAIA vs SPY: side by side
| MAIA (MAIA Biotechnology, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -16.4% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 90.7% | 14.5% |
| Beta vs S&P 500 | 1.35 | 1.00 |
| Max drawdown (3Y) | -82.9% | -18.8% |
| Market cap | $0.1B | – |
| 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 | MAIA | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | -66.7% | +26.2% |
| 2024 | +69.2% | +24.9% |
| 2025 | -22.7% | +17.7% |
| 2026 | -9.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAIA and SPY good diversifiers for each other?
Reasonably. At 0.22, MAIA and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MAIA and SPY?
The MAIA/SPY correlation stands at 0.22 on a 3-year window (1 year: 0.36, 5 years: 0.20), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for MAIA?
Reasonably. At 0.22, MAIA and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
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: MAIA correlations · SPY correlations
