MCS vs SPY: Correlation
Measured on weekly returns over the past three years, Marcus Corporation (The) (MCS) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.21, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCS and SPY?
Across a 3-year window, the weekly returns of MCS and SPY correlate at 0.21, weak. Little has changed lately, as the 1-year reading of 0.14 lands near the 3-year figure. Stretching to 5 years gives 0.32, with an annualized covariance of 111.1 %².
SPY is close to the least connected end of MCS's tracked universe, ranking #8 of 12. Correlation aside, the last 12 months split them widely, with MCS ahead by 70.9 points (+91.5% versus +20.6%). Note the risk asymmetry: MCS runs 2.5 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.
MCS vs SPY: side by side
| MCS (Marcus Corporation (The)) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +91.5% | +20.6% |
| 5-year return | +106.8% | +82.4% |
| Volatility (ann.) | 35.9% | 14.5% |
| Beta vs S&P 500 | 0.53 | 1.00 |
| Max drawdown (3Y) | -42.9% | -18.8% |
| Market cap | $0.9B | – |
| P/E (trailing) | 40.2 | – |
| Dividend yield | 1.08% | 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 | MCS | SPY |
|---|---|---|
| 2022 | -18.9% | -18.2% |
| 2023 | +2.9% | +26.2% |
| 2024 | +50.4% | +24.9% |
| 2025 | -26.6% | +17.7% |
| 2026 | +91.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCS and SPY good diversifiers for each other?
Reasonably. At 0.21, MCS and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MCS and SPY?
Using weekly returns as of 2026-08-27: 0.21 over 3 years, with 0.14 over the last year and 0.32 over 5 years.
Is SPY a good diversifier for MCS?
Reasonably. At 0.21, MCS and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.21 mean?
A reading of 0.21 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: MCS correlations · SPY correlations
