MBOT vs SPY: Correlation
How closely do Microbot Medical Inc. (MBOT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MBOT and SPY?
On 3 years of weekly data the MBOT/SPY correlation comes out at 0.27, weak. Recent behaviour matches the longer record: 0.23 over 1 year against 0.27 over 3. The 5-year figure is 0.26, and annualized covariance runs at 382.4 %².
SPY is close to the least connected end of MBOT's tracked universe, ranking #16 of 19. Correlation aside, the last 12 months split them widely, with SPY ahead by 83.7 points (-63.1% versus +20.6%). Risk is not evenly split, since MBOT carries 6.7 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.
MBOT vs SPY: side by side
| MBOT (Microbot Medical Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -63.1% | +20.6% |
| 5-year return | -79.9% | +82.4% |
| Volatility (ann.) | 97.0% | 14.5% |
| Beta vs S&P 500 | 1.83 | 1.00 |
| Max drawdown (3Y) | -67.3% | -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 | MBOT | SPY |
|---|---|---|
| 2022 | -59.9% | -18.2% |
| 2023 | -45.5% | +26.2% |
| 2024 | -31.7% | +24.9% |
| 2025 | +78.6% | +17.7% |
| 2026 | -25.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MBOT and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MBOT and SPY?
As of 2026-08-27, the correlation of weekly returns between MBOT and SPY is 0.27 over 3 years, 0.23 over 1 year and 0.26 over 5 years.
Is SPY a good diversifier for MBOT?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 mean?
A reading of 0.27 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: MBOT correlations · SPY correlations
