MNSB vs SPY: Correlation
MainStreet Bancshares, Inc. (MNSB) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MNSB and SPY?
Across a 3-year window, the weekly returns of MNSB and SPY correlate at 0.26, weak. Little has changed lately, as the 1-year reading of 0.17 lands near the 3-year figure. Stretching to 5 years gives 0.25, with an annualized covariance of 114.9 %².
Out of 11 assets tracked against MNSB, SPY lands near the bottom at #7. Over the last 12 months SPY came out ahead by 8.2 percentage points (+12.4% against +20.6%). Note the risk asymmetry: MNSB runs 2.1 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.
MNSB vs SPY: side by side
| MNSB (MainStreet Bancshares, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +12.4% | +20.6% |
| 5-year return | +17.5% | +82.4% |
| Volatility (ann.) | 31.1% | 14.5% |
| Beta vs S&P 500 | 0.55 | 1.00 |
| Max drawdown (3Y) | -40.5% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 12.2 | – |
| Dividend yield | 1.61% | 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 | MNSB | SPY |
|---|---|---|
| 2022 | +12.9% | -18.2% |
| 2023 | -8.2% | +26.2% |
| 2024 | -25.3% | +24.9% |
| 2025 | +15.0% | +17.7% |
| 2026 | +25.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MNSB and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MNSB and SPY?
The MNSB/SPY correlation stands at 0.26 on a 3-year window (1 year: 0.17, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for MNSB?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 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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Hubs: MNSB correlations · SPY correlations
