MAR vs SPY: Correlation
Measured on weekly returns over the past three years, Marriott International (MAR) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAR and SPY?
Across a 3-year window, the weekly returns of MAR and SPY correlate at 0.57, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.18 versus 0.57 over 3 years. Stretching to 5 years gives 0.59, with an annualized covariance of 202.3 %².
Within MAR's tracked universe of 40 assets, SPY comes in at #17 by 3-year correlation. Over the last 12 months MAR came out ahead by 11.7 percentage points (+32.3% against +20.6%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.18 to 0.77. One caveat on sizing: MAR is 1.7 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.
MAR vs SPY: side by side
| MAR (Marriott International) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +32.3% | +20.6% |
| 5-year return | +173.2% | +82.4% |
| Volatility (ann.) | 24.6% | 14.5% |
| Beta vs S&P 500 | 0.97 | 1.00 |
| Max drawdown (3Y) | -30.5% | -18.8% |
| Market cap | $92.3B | – |
| P/E (trailing) | 36.7 | – |
| Dividend yield | 0.76% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Consumer Discretionary | 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 | MAR | SPY |
|---|---|---|
| 2022 | -9.3% | -18.2% |
| 2023 | +53.1% | +26.2% |
| 2024 | +24.9% | +24.9% |
| 2025 | +12.3% | +17.7% |
| 2026 | +14.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that SPY holds MAR at a 0.12% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are MAR and SPY good diversifiers for each other?
Only partially. A correlation of 0.57 means MAR and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MAR and SPY?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.18 over the last year and 0.59 over 5 years.
Is SPY a good diversifier for MAR?
Only partially. A correlation of 0.57 means MAR and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
A reading of 0.57 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: MAR correlations · SPY correlations
