MSS vs SPY: Correlation
Measured on weekly returns over the past three years, Maison Solutions Inc. (MSS) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.04, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSS and SPY?
On 3 years of weekly data the MSS/SPY correlation comes out at 0.04, near zero, meaning they move largely independently. Lately the two have moved closer together, with the 1-year correlation at 0.27 versus 0.04 over 3 years. The 5-year figure is n/a, and annualized covariance runs at 65.9 %².
By 3-year correlation, SPY places #7 of the 13 assets tracked against MSS. Correlation aside, the last 12 months split them widely, with SPY ahead by 116.9 points (-96.3% versus +20.6%). One caveat on sizing: MSS is 8.8 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.
MSS vs SPY: side by side
| MSS (Maison Solutions Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -96.3% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 128.2% | 14.5% |
| Beta vs S&P 500 | 0.32 | 1.00 |
| Max drawdown (3Y) | -99.8% | -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 | MSS | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | -10.9% | +24.9% |
| 2025 | -73.9% | +17.7% |
| 2026 | -90.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSS and SPY good diversifiers for each other?
Yes. With a correlation of 0.04, MSS and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MSS and SPY?
Using weekly returns as of 2026-08-27: 0.04 over 3 years, with 0.27 over the last year and n/a over 5 years.
Is SPY a good diversifier for MSS?
Yes. With a correlation of 0.04, MSS and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.04 mean?
On the −1 to +1 scale, 0.04 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: MSS correlations · SPY correlations
