MPU vs SPY: Correlation
Mega Matrix Inc. Class A (MPU) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.11.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPU and SPY?
Across a 3-year window, the weekly returns of MPU and SPY correlate at 0.11, weak. The link has tightened recently: the 1-year correlation (0.22) runs above the 3-year figure (0.11). Stretching to 5 years gives 0.12, with an annualized covariance of 218.9 %².
Among the 10 assets we track against MPU, SPY sits near the bottom by co-movement, at rank #7. The last year tells two different stories: SPY led by 111.9 percentage points, -91.3% for MPU against +20.6% for SPY. Note the risk asymmetry: MPU runs 9.5 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.
MPU vs SPY: side by side
| MPU (Mega Matrix Inc. Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -91.3% | +20.6% |
| 5-year return | -96.8% | +82.4% |
| Volatility (ann.) | 137.9% | 14.5% |
| Beta vs S&P 500 | 1.05 | 1.00 |
| Max drawdown (3Y) | -95.1% | -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 | MPU | SPY |
|---|---|---|
| 2022 | -85.3% | -18.2% |
| 2023 | -19.9% | +26.2% |
| 2024 | -1.4% | +24.9% |
| 2025 | -34.5% | +17.7% |
| 2026 | -75.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPU and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.11 means the two rarely move for the same reasons.
FAQ
What is the correlation between MPU and SPY?
As of 2026-08-27, the correlation of weekly returns between MPU and SPY is 0.11 over 3 years, 0.22 over 1 year and 0.12 over 5 years.
Is SPY a good diversifier for MPU?
By historical standards, yes. A correlation of 0.11 means the two rarely move for the same reasons.
What does a correlation of 0.11 mean?
On the −1 to +1 scale, 0.11 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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Related comparisons
Hubs: MPU correlations · SPY correlations
