MNPR vs SPY: Correlation
Measured on weekly returns over the past three years, Monopar Therapeutics Inc. (MNPR) 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 MNPR and SPY?
Over the past 3 years, MNPR and SPY moved with a correlation of 0.11, which is weak. The relationship has been stable: the 1-year correlation (0.11) sits close to the 3-year figure. Over 5 years the correlation is 0.07, and the annualized covariance of weekly returns is 363.1 %².
Within MNPR's tracked universe of 16 assets, SPY comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MNPR outperformed by 206.7 percentage points (+227.3% for MNPR against +20.6% for SPY). One caveat on sizing: MNPR is 15.5 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.
MNPR vs SPY: side by side
| MNPR (Monopar Therapeutics Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +227.3% | +20.6% |
| 5-year return | +365.1% | +82.4% |
| Volatility (ann.) | 225.0% | 14.5% |
| Beta vs S&P 500 | 1.74 | 1.00 |
| Max drawdown (3Y) | -67.3% | -18.8% |
| Market cap | $0.8B | – |
| 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 | MNPR | SPY |
|---|---|---|
| 2022 | -26.2% | -18.2% |
| 2023 | -85.7% | +26.2% |
| 2024 | +1194.1% | +24.9% |
| 2025 | +196.8% | +17.7% |
| 2026 | +74.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MNPR and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.11 means the two rarely move for the same reasons.
FAQ
What is the correlation between MNPR and SPY?
The MNPR/SPY correlation stands at 0.11 on a 3-year window (1 year: 0.11, 5 years: 0.07), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for MNPR?
By historical standards, yes. A correlation of 0.11 means the two rarely move for the same reasons.
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: MNPR correlations · SPY correlations
