MCFT vs SPY: Correlation
How closely do MasterCraft Boat Holdings, Inc. (MCFT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCFT and SPY?
Across a 3-year window, the weekly returns of MCFT and SPY correlate at 0.38, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.25 versus 0.38 over 3 years. Stretching to 5 years gives 0.41, with an annualized covariance of 215.6 %².
SPY is close to the least connected end of MCFT's tracked universe, ranking #18 of 22. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 15.0 percentage points (+5.6% for MCFT against +20.6% for SPY). One caveat on sizing: MCFT is 2.7 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.
MCFT vs SPY: side by side
| MCFT (MasterCraft Boat Holdings, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +5.6% | +20.6% |
| 5-year return | -7.0% | +82.4% |
| Volatility (ann.) | 39.1% | 14.5% |
| Beta vs S&P 500 | 1.03 | 1.00 |
| Max drawdown (3Y) | -41.1% | -18.8% |
| Market cap | $0.6B | – |
| P/E (trailing) | 36.1 | – |
| 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 | MCFT | SPY |
|---|---|---|
| 2022 | -8.7% | -18.2% |
| 2023 | -12.5% | +26.2% |
| 2024 | -15.8% | +24.9% |
| 2025 | -0.8% | +17.7% |
| 2026 | +27.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCFT and SPY good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MCFT and SPY?
The MCFT/SPY correlation stands at 0.38 on a 3-year window (1 year: 0.25, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for MCFT?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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: MCFT correlations · SPY correlations
