MAMA vs SPY: Correlation
Mama's Creations, Inc. (MAMA) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.14.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAMA and SPY?
On 3 years of weekly data the MAMA/SPY correlation comes out at 0.14, weak. The link has loosened recently: the 1-year correlation (-0.08) runs below the 3-year figure (0.14). The 5-year figure is 0.19, and annualized covariance runs at 102.0 %².
SPY is close to the least connected end of MAMA's tracked universe, ranking #7 of 11. Their recent paths diverged sharply: over the last 12 months MAMA outperformed by 66.8 percentage points (+87.4% for MAMA against +20.6% for SPY). Note the risk asymmetry: MAMA runs 3.4 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.
MAMA vs SPY: side by side
| MAMA (Mama's Creations, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +87.4% | +20.6% |
| 5-year return | +535.7% | +82.4% |
| Volatility (ann.) | 49.3% | 14.5% |
| Beta vs S&P 500 | 0.49 | 1.00 |
| Max drawdown (3Y) | -42.5% | -18.8% |
| Market cap | $0.7B | – |
| P/E (trailing) | 106.8 | – |
| 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 | MAMA | SPY |
|---|---|---|
| 2022 | -10.7% | -18.2% |
| 2023 | +173.5% | +26.2% |
| 2024 | +62.1% | +24.9% |
| 2025 | +69.5% | +17.7% |
| 2026 | +18.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAMA and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.14 means the two rarely move for the same reasons.
FAQ
What is the correlation between MAMA and SPY?
Using weekly returns as of 2026-08-27: 0.14 over 3 years, with -0.08 over the last year and 0.19 over 5 years.
Is SPY a good diversifier for MAMA?
By historical standards, yes. A correlation of 0.14 means the two rarely move for the same reasons.
What does a correlation of 0.14 mean?
On the −1 to +1 scale, 0.14 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: MAMA correlations · SPY correlations
