MVIS vs SPY: Correlation
MicroVision, Inc. (MVIS) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.06.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MVIS and SPY?
On 3 years of weekly data the MVIS/SPY correlation comes out at 0.06, near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.09 lands near the 3-year figure. The 5-year figure is 0.06, and annualized covariance runs at 723.1 %².
Among the 10 assets we track against MVIS, SPY sits near the bottom by co-movement, at rank #6. Their recent paths diverged sharply: over the last 12 months MVIS outperformed by 47.3 percentage points (+67.9% for MVIS against +20.6% for SPY). Risk is not evenly split, since MVIS carries 60.9 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.
MVIS vs SPY: side by side
| MVIS (MicroVision, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +67.9% | +20.6% |
| 5-year return | -87.1% | +82.4% |
| Volatility (ann.) | 882.4% | 14.5% |
| Beta vs S&P 500 | 3.46 | 1.00 |
| Max drawdown (3Y) | -95.3% | -18.8% |
| Market cap | $0.1B | – |
| 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 | MVIS | SPY |
|---|---|---|
| 2022 | -53.1% | -18.2% |
| 2023 | +13.2% | +26.2% |
| 2024 | -50.8% | +24.9% |
| 2025 | -36.6% | +17.7% |
| 2026 | +126.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MVIS and SPY good diversifiers for each other?
Yes. With a correlation of 0.06, MVIS and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MVIS and SPY?
Using weekly returns as of 2026-08-27: 0.06 over 3 years, with 0.09 over the last year and 0.06 over 5 years.
Is SPY a good diversifier for MVIS?
Yes. With a correlation of 0.06, MVIS and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.06 mean?
A reading of 0.06 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MVIS correlations · SPY correlations
