MOBX vs SPY: Correlation
Mobix Labs, Inc. (MOBX) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is -0.03.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MOBX and SPY?
Over the past 3 years, MOBX and SPY moved with a correlation of -0.03, which is near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.16) than the 3-year average (-0.03). Over 5 years the correlation is -0.02, and the annualized covariance of weekly returns is -128.9 %².
Among the 77 assets we track against MOBX, SPY ranks #16 by 3-year correlation. The last year tells two different stories: SPY led by 108.6 percentage points, -88.0% for MOBX against +20.6% for SPY. Note the risk asymmetry: MOBX runs 23.0 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.
MOBX vs SPY: side by side
| MOBX (Mobix Labs, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -88.0% | +20.6% |
| 5-year return | -98.8% | +82.4% |
| Volatility (ann.) | 333.1% | 14.5% |
| Beta vs S&P 500 | -0.62 | 1.00 |
| Max drawdown (3Y) | -99.1% | -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 | MOBX | SPY |
|---|---|---|
| 2022 | +3.8% | -18.2% |
| 2023 | -60.6% | +26.2% |
| 2024 | -57.7% | +24.9% |
| 2025 | -84.3% | +17.7% |
| 2026 | -57.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MOBX and SPY good diversifiers for each other?
By historical standards, yes. A correlation of -0.03 means the two rarely move for the same reasons.
FAQ
What is the correlation between MOBX and SPY?
Using weekly returns as of 2026-08-27: -0.03 over 3 years, with -0.16 over the last year and -0.02 over 5 years.
Is SPY a good diversifier for MOBX?
By historical standards, yes. A correlation of -0.03 means the two rarely move for the same reasons.
What does a correlation of -0.03 mean?
A reading of -0.03 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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Related comparisons
Hubs: MOBX correlations · SPY correlations
