MRBK vs SPY: Correlation
How closely do Meridian Corporation (MRBK) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRBK and SPY?
On 3 years of weekly data the MRBK/SPY correlation comes out at 0.39, moderate. The link has loosened recently: the 1-year correlation (0.10) runs below the 3-year figure (0.39). The 5-year figure is 0.33, and annualized covariance runs at 200.0 %².
SPY is close to the least connected end of MRBK's tracked universe, ranking #9 of 13. The trailing year gives MRBK the advantage: +26.7% versus +20.6%, a 6.1-point spread. Note the risk asymmetry: MRBK 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.
MRBK vs SPY: side by side
| MRBK (Meridian Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +26.7% | +20.6% |
| 5-year return | +64.7% | +82.4% |
| Volatility (ann.) | 35.7% | 14.5% |
| Beta vs S&P 500 | 0.96 | 1.00 |
| Max drawdown (3Y) | -39.2% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 10.6 | – |
| Dividend yield | 2.81% | 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 | MRBK | SPY |
|---|---|---|
| 2022 | -13.3% | -18.2% |
| 2023 | -4.1% | +26.2% |
| 2024 | +3.4% | +24.9% |
| 2025 | +32.7% | +17.7% |
| 2026 | +12.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRBK and SPY good diversifiers for each other?
Reasonably. At 0.39, MRBK and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MRBK and SPY?
The MRBK/SPY correlation stands at 0.39 on a 3-year window (1 year: 0.10, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for MRBK?
Reasonably. At 0.39, MRBK and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 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/mrbk-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mrbk-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MRBK correlations · SPY correlations
