MEI vs SPY: Correlation
Measured on weekly returns over the past three years, Methode Electronics, Inc. (MEI) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEI and SPY?
On 3 years of weekly data the MEI/SPY correlation comes out at 0.37, moderate. Recent behaviour matches the longer record: 0.29 over 1 year against 0.37 over 3. The 5-year figure is 0.36, and annualized covariance runs at 404.8 %².
SPY is close to the least connected end of MEI's tracked universe, ranking #6 of 10. The last year tells two different stories: MEI led by 114.1 percentage points, +134.7% for MEI against +20.6% for SPY. One caveat on sizing: MEI is 5.3 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.
MEI vs SPY: side by side
| MEI (Methode Electronics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +134.7% | +20.6% |
| 5-year return | -56.2% | +82.4% |
| Volatility (ann.) | 76.6% | 14.5% |
| Beta vs S&P 500 | 1.94 | 1.00 |
| Max drawdown (3Y) | -82.7% | -18.8% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.29% | 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 | MEI | SPY |
|---|---|---|
| 2022 | -8.5% | -18.2% |
| 2023 | -47.9% | +26.2% |
| 2024 | -46.0% | +24.9% |
| 2025 | -40.5% | +17.7% |
| 2026 | +172.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEI and SPY good diversifiers for each other?
Reasonably. At 0.37, MEI and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MEI and SPY?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.29 over the last year and 0.36 over 5 years.
Is SPY a good diversifier for MEI?
Reasonably. At 0.37, MEI and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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: MEI correlations · SPY correlations
