MPAA vs SPY: Correlation
Measured on weekly returns over the past three years, Motorcar Parts of America, Inc. (MPAA) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPAA and SPY?
Across a 3-year window, the weekly returns of MPAA and SPY correlate at 0.30, moderate. The link has loosened recently: the 1-year correlation (0.19) runs below the 3-year figure (0.30). Stretching to 5 years gives 0.27, with an annualized covariance of 297.4 %².
SPY is close to the least connected end of MPAA's tracked universe, ranking #8 of 12. The last year tells two different stories: SPY led by 44.2 percentage points, -23.6% for MPAA against +20.6% for SPY. One caveat on sizing: MPAA is 4.8 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.
MPAA vs SPY: side by side
| MPAA (Motorcar Parts of America, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -23.6% | +20.6% |
| 5-year return | -42.5% | +82.4% |
| Volatility (ann.) | 69.6% | 14.5% |
| Beta vs S&P 500 | 1.42 | 1.00 |
| Max drawdown (3Y) | -53.3% | -18.8% |
| Market cap | $0.2B | – |
| 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 | MPAA | SPY |
|---|---|---|
| 2022 | -30.5% | -18.2% |
| 2023 | -21.2% | +26.2% |
| 2024 | -18.6% | +24.9% |
| 2025 | +62.4% | +17.7% |
| 2026 | -7.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPAA and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MPAA and SPY?
Using weekly returns as of 2026-08-27: 0.30 over 3 years, with 0.19 over the last year and 0.27 over 5 years.
Is SPY a good diversifier for MPAA?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 mean?
A reading of 0.30 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: MPAA correlations · SPY correlations
