MSN vs SPY: Correlation
Emerson Radio Corporation (MSN) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.05.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSN and SPY?
Across a 3-year window, the weekly returns of MSN and SPY correlate at 0.05, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.09) sits close to the 3-year figure. Stretching to 5 years gives 0.17, with an annualized covariance of 31.0 %².
Out of 10 assets tracked against MSN, SPY lands near the bottom at #7. Over the last 12 months SPY came out ahead by 5.0 percentage points (+15.6% against +20.6%). One caveat on sizing: MSN is 3.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
MSN vs SPY: side by side
| MSN (Emerson Radio Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +15.6% | +20.6% |
| 5-year return | -59.8% | +82.4% |
| Volatility (ann.) | 45.3% | 14.5% |
| Beta vs S&P 500 | 0.15 | 1.00 |
| Max drawdown (3Y) | -55.3% | -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 | MSN | SPY |
|---|---|---|
| 2022 | -34.6% | -18.2% |
| 2023 | +3.8% | +26.2% |
| 2024 | -23.6% | +24.9% |
| 2025 | -9.5% | +17.7% |
| 2026 | +24.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSN and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.05 means the two rarely move for the same reasons.
FAQ
What is the correlation between MSN and SPY?
The MSN/SPY correlation stands at 0.05 on a 3-year window (1 year: 0.09, 5 years: 0.17), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for MSN?
By historical standards, yes. A correlation of 0.05 means the two rarely move for the same reasons.
What does a correlation of 0.05 mean?
On the −1 to +1 scale, 0.05 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: MSN correlations · SPY correlations
