MPTI vs SPY: Correlation
How closely do M-tron Industries, Inc. (MPTI) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPTI and SPY?
Over the past 3 years, MPTI and SPY moved with a correlation of 0.32, which is moderate. The relationship has been stable: the 1-year correlation (0.30) sits close to the 3-year figure. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 315.8 %².
SPY is close to the least connected end of MPTI's tracked universe, ranking #8 of 11. Their recent paths diverged sharply: over the last 12 months MPTI outperformed by 53.3 percentage points (+73.9% for MPTI against +20.6% for SPY). Note the risk asymmetry: MPTI runs 4.7 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.
MPTI vs SPY: side by side
| MPTI (M-tron Industries, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +73.9% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 68.5% | 14.5% |
| Beta vs S&P 500 | 1.51 | 1.00 |
| Max drawdown (3Y) | -50.0% | -18.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 31.1 | – |
| 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 | MPTI | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | +308.0% | +26.2% |
| 2024 | +35.7% | +24.9% |
| 2025 | +9.9% | +17.7% |
| 2026 | +47.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPTI and SPY good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MPTI and SPY?
Using weekly returns as of 2026-08-27: 0.32 over 3 years, with 0.30 over the last year and 0.28 over 5 years.
Is SPY a good diversifier for MPTI?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.32 mean?
A reading of 0.32 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mpti-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mpti-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MPTI correlations · SPY correlations
