MKC vs SPY: Correlation
McCormick & Company (MKC) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.13.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MKC and SPY?
Over the past 3 years, MKC and SPY moved with a correlation of 0.13, which is weak. The relationship has been stable: the 1-year correlation (0.08) sits close to the 3-year figure. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 49.6 %².
By 3-year correlation, SPY places #23 of the 34 assets tracked against MKC. Correlation aside, the last 12 months split them widely, with SPY ahead by 40.9 points (-20.3% versus +20.6%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.14 to 0.41. Note the risk asymmetry: MKC runs 1.8 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.
MKC vs SPY: side by side
| MKC (McCormick & Company) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -20.3% | +20.6% |
| 5-year return | -28.5% | +82.4% |
| Volatility (ann.) | 26.5% | 14.5% |
| Beta vs S&P 500 | 0.24 | 1.00 |
| Max drawdown (3Y) | -44.3% | -18.8% |
| Market cap | $14.7B | – |
| P/E (trailing) | 9.2 | – |
| Dividend yield | 3.38% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Consumer Staples | 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 | MKC | SPY |
|---|---|---|
| 2022 | -12.7% | -18.2% |
| 2023 | -15.7% | +26.2% |
| 2024 | +14.0% | +24.9% |
| 2025 | -8.3% | +17.7% |
| 2026 | -18.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MKC and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
FAQ
What is the correlation between MKC and SPY?
The MKC/SPY correlation stands at 0.13 on a 3-year window (1 year: 0.08, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for MKC?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
What does a correlation of 0.13 mean?
A reading of 0.13 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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Hubs: MKC correlations · SPY correlations
