MKZR vs SPY: Correlation
Measured on weekly returns over the past three years, MacKenzie Realty Capital, Inc. (MKZR) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.11, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MKZR and SPY?
On 3 years of weekly data the MKZR/SPY correlation comes out at 0.11, weak. The relationship has been stable: the 1-year correlation (0.18) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 154.6 %².
Among the 23 assets we track against MKZR, SPY ranks #8 by 3-year correlation. The last year tells two different stories: SPY led by 96.3 percentage points, -75.7% for MKZR against +20.6% for SPY. One caveat on sizing: MKZR is 6.3 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.
MKZR vs SPY: side by side
| MKZR (MacKenzie Realty Capital, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -75.7% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 91.6% | 14.5% |
| Beta vs S&P 500 | 0.74 | 1.00 |
| Max drawdown (3Y) | -97.8% | -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 | MKZR | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | – | +24.9% |
| 2025 | -86.7% | +17.7% |
| 2026 | -63.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MKZR and SPY good diversifiers for each other?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MKZR and SPY?
The MKZR/SPY correlation stands at 0.11 on a 3-year window (1 year: 0.18, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for MKZR?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.11 mean?
On the −1 to +1 scale, 0.11 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: MKZR correlations · SPY correlations
