MOS vs SPY: Correlation
Mosaic Company (The) (MOS) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MOS and SPY?
On 3 years of weekly data the MOS/SPY correlation comes out at 0.31, moderate. The past 12 months show a weaker link (0.11) than the 3-year average (0.31). The 5-year figure is 0.33, and annualized covariance runs at 161.9 %².
By 3-year correlation, SPY places #22 of the 33 assets tracked against MOS. Correlation aside, the last 12 months split them widely, with SPY ahead by 47.2 points (-26.6% versus +20.6%). On a rolling one-year basis the correlation drifted between 0.09 and 0.57, a moderate band. Note the risk asymmetry: MOS runs 2.5 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.
MOS vs SPY: side by side
| MOS (Mosaic Company (The)) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -26.6% | +20.6% |
| 5-year return | -17.1% | +82.4% |
| Volatility (ann.) | 36.6% | 14.5% |
| Beta vs S&P 500 | 0.78 | 1.00 |
| Max drawdown (3Y) | -45.7% | -18.8% |
| Market cap | $7.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 3.64% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Materials | 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 | MOS | SPY |
|---|---|---|
| 2022 | +12.8% | -18.2% |
| 2023 | -16.4% | +26.2% |
| 2024 | -29.1% | +24.9% |
| 2025 | +1.1% | +17.7% |
| 2026 | +0.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MOS and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MOS and SPY?
Using weekly returns as of 2026-08-27: 0.31 over 3 years, with 0.11 over the last year and 0.33 over 5 years.
Is SPY a good diversifier for MOS?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: MOS correlations · SPY correlations
