MDBH vs SPY: Correlation
How closely do MDB Capital Holdings, LLC - Class A common (MDBH) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.06, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDBH and SPY?
On 3 years of weekly data the MDBH/SPY correlation comes out at 0.06, near zero, meaning they move largely independently. Lately the two have moved closer together, with the 1-year correlation at 0.38 versus 0.06 over 3 years. The 5-year figure is n/a, and annualized covariance runs at 53.1 %².
SPY is close to the least connected end of MDBH's tracked universe, ranking #6 of 10. Correlation aside, the last 12 months split them widely, with SPY ahead by 36.5 points (-15.9% versus +20.6%). Note the risk asymmetry: MDBH runs 4.4 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.
MDBH vs SPY: side by side
| MDBH (MDB Capital Holdings, LLC - Class A common) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -15.9% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 63.1% | 14.5% |
| Beta vs S&P 500 | 0.25 | 1.00 |
| Max drawdown (3Y) | -78.6% | -18.8% |
| Market cap | – | – |
| 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 | MDBH | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | -45.4% | +24.9% |
| 2025 | -48.5% | +17.7% |
| 2026 | -10.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDBH and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.06 means the two rarely move for the same reasons.
FAQ
What is the correlation between MDBH and SPY?
Using weekly returns as of 2026-08-27: 0.06 over 3 years, with 0.38 over the last year and n/a over 5 years.
Is SPY a good diversifier for MDBH?
By historical standards, yes. A correlation of 0.06 means the two rarely move for the same reasons.
What does a correlation of 0.06 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: MDBH correlations · SPY correlations
