MSGM vs SPY: Correlation
Measured on weekly returns over the past three years, Motorsport Games Inc. (MSGM) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of -0.01, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSGM and SPY?
Across a 3-year window, the weekly returns of MSGM and SPY correlate at -0.01, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (-0.01) sits close to the 3-year figure. Stretching to 5 years gives 0.07, with an annualized covariance of -23.2 %².
Within MSGM's tracked universe of 17 assets, SPY comes in at #11 by 3-year correlation. On 12-month performance MSGM holds a 13.4-point edge, +34.0% against +20.6%. Risk is not evenly split, since MSGM carries 11.0 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.
MSGM vs SPY: side by side
| MSGM (Motorsport Games Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +34.0% | +20.6% |
| 5-year return | -96.2% | +82.4% |
| Volatility (ann.) | 159.9% | 14.5% |
| Beta vs S&P 500 | -0.11 | 1.00 |
| Max drawdown (3Y) | -81.5% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 13.4 | – |
| 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 | MSGM | SPY |
|---|---|---|
| 2022 | -87.8% | -18.2% |
| 2023 | -25.5% | +26.2% |
| 2024 | -56.6% | +24.9% |
| 2025 | +136.6% | +17.7% |
| 2026 | +23.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSGM and SPY good diversifiers for each other?
By historical standards, yes. A correlation of -0.01 means the two rarely move for the same reasons.
FAQ
What is the correlation between MSGM and SPY?
Using weekly returns as of 2026-08-27: -0.01 over 3 years, with -0.01 over the last year and 0.07 over 5 years.
Is SPY a good diversifier for MSGM?
By historical standards, yes. A correlation of -0.01 means the two rarely move for the same reasons.
What does a correlation of -0.01 mean?
On the −1 to +1 scale, -0.01 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: MSGM correlations · SPY correlations
