MDB vs SPY: Correlation
How closely do MongoDB, Inc. (MDB) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDB and SPY?
Across a 3-year window, the weekly returns of MDB and SPY correlate at 0.44, moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. Stretching to 5 years gives 0.51, with an annualized covariance of 402.7 %².
Within MDB's tracked universe of 14 assets, SPY comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MDB ahead by 28.4 points (+49.0% versus +20.6%). Risk is not evenly split, since MDB carries 4.4 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.
MDB vs SPY: side by side
| MDB (MongoDB, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +49.0% | +20.6% |
| 5-year return | +11.2% | +82.4% |
| Volatility (ann.) | 63.4% | 14.5% |
| Beta vs S&P 500 | 1.93 | 1.00 |
| Max drawdown (3Y) | -70.9% | -18.8% |
| Market cap | $35.4B | – |
| 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 | MDB | SPY |
|---|---|---|
| 2022 | -62.8% | -18.2% |
| 2023 | +107.7% | +26.2% |
| 2024 | -43.1% | +24.9% |
| 2025 | +80.3% | +17.7% |
| 2026 | +5.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDB and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MDB and SPY?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.49 over the last year and 0.51 over 5 years.
Is SPY a good diversifier for MDB?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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: MDB correlations · SPY correlations
