MTSI vs SPY: Correlation
How closely do MACOM Technology Solutions Holdings, Inc. (MTSI) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTSI and SPY?
Across a 3-year window, the weekly returns of MTSI and SPY correlate at 0.49, moderate. Little has changed lately, as the 1-year reading of 0.39 lands near the 3-year figure. Stretching to 5 years gives 0.52, with an annualized covariance of 345.1 %².
By 3-year correlation, SPY places #12 of the 17 assets tracked against MTSI. The last year tells two different stories: MTSI led by 93.2 percentage points, +113.8% for MTSI against +20.6% for SPY. Risk is not evenly split, since MTSI carries 3.4 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.
MTSI vs SPY: side by side
| MTSI (MACOM Technology Solutions Holdings, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +113.8% | +20.6% |
| 5-year return | +341.3% | +82.4% |
| Volatility (ann.) | 48.7% | 14.5% |
| Beta vs S&P 500 | 1.65 | 1.00 |
| Max drawdown (3Y) | -44.2% | -18.8% |
| Market cap | $21.2B | – |
| P/E (trailing) | 88.3 | – |
| 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 | MTSI | SPY |
|---|---|---|
| 2022 | -19.6% | -18.2% |
| 2023 | +47.6% | +26.2% |
| 2024 | +39.8% | +24.9% |
| 2025 | +31.8% | +17.7% |
| 2026 | +61.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTSI and SPY good diversifiers for each other?
Reasonably. At 0.49, MTSI and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MTSI and SPY?
As of 2026-08-27, the correlation of weekly returns between MTSI and SPY is 0.49 over 3 years, 0.39 over 1 year and 0.52 over 5 years.
Is SPY a good diversifier for MTSI?
Reasonably. At 0.49, MTSI and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: MTSI correlations · SPY correlations
