MU vs SPY: Correlation
Measured on weekly returns over the past three years, Micron Technology (MU) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MU and SPY?
On 3 years of weekly data the MU/SPY correlation comes out at 0.56, moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. The 5-year figure is 0.54, and annualized covariance runs at 515.2 %².
Within MU's tracked universe of 32 assets, SPY comes in at #20 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MU outperformed by 675.1 percentage points (+695.7% for MU against +20.6% for SPY). Across three years, the rolling one-year figure varied moderately, from 0.41 to 0.73. Risk is not evenly split, since MU carries 4.4 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.
MU vs SPY: side by side
| MU (Micron Technology) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +695.7% | +20.6% |
| 5-year return | +1211.2% | +82.4% |
| Volatility (ann.) | 63.3% | 14.5% |
| Beta vs S&P 500 | 2.47 | 1.00 |
| Max drawdown (3Y) | -57.6% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 21.2 | – |
| Dividend yield | 0.06% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Information Technology | 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 | MU | SPY |
|---|---|---|
| 2022 | -45.9% | -18.2% |
| 2023 | +71.9% | +26.2% |
| 2024 | -1.0% | +24.9% |
| 2025 | +240.2% | +17.7% |
| 2026 | +227.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
MU represents 1.6% of SPY's portfolio, so part of any move in SPY is MU itself, and the correlation between them is partly mechanical.
Are MU and SPY good diversifiers for each other?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MU and SPY?
Using weekly returns as of 2026-08-27: 0.56 over 3 years, with 0.47 over the last year and 0.54 over 5 years.
Is SPY a good diversifier for MU?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.56 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mu-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mu-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MU correlations · SPY correlations
