MPWR vs SPY: Correlation
How closely do Monolithic Power Systems (MPWR) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPWR and SPY?
Across a 3-year window, the weekly returns of MPWR and SPY correlate at 0.67, strong. Lately the two have drifted apart, with the 1-year correlation at 0.57 versus 0.67 over 3 years. Stretching to 5 years gives 0.64, with an annualized covariance of 463.3 %².
By 3-year correlation, SPY places #10 of the 41 assets tracked against MPWR. Their recent paths diverged sharply: over the last 12 months MPWR outperformed by 31.8 percentage points (+52.4% for MPWR against +20.6% for SPY). On a rolling one-year basis the correlation drifted between 0.51 and 0.80, a moderate band. Risk is not evenly split, since MPWR carries 3.3 times the volatility of the other side.
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.
MPWR vs SPY: side by side
| MPWR (Monolithic Power Systems) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +52.4% | +20.6% |
| 5-year return | +170.3% | +82.4% |
| Volatility (ann.) | 48.1% | 14.5% |
| Beta vs S&P 500 | 2.22 | 1.00 |
| Max drawdown (3Y) | -51.6% | -18.8% |
| Market cap | $64.4B | – |
| P/E (trailing) | 79.4 | – |
| Dividend yield | 0.55% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Information Technology | 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 | MPWR | SPY |
|---|---|---|
| 2022 | -27.8% | -18.2% |
| 2023 | +79.8% | +26.2% |
| 2024 | -5.6% | +24.9% |
| 2025 | +54.5% | +17.7% |
| 2026 | +45.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that SPY holds MPWR at a 0.1% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are MPWR and SPY good diversifiers for each other?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MPWR and SPY?
The MPWR/SPY correlation stands at 0.67 on a 3-year window (1 year: 0.57, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for MPWR?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 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: MPWR correlations · SPY correlations
