MXC vs SPY: Correlation
How closely do Mexco Energy Corporation (MXC) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of -0.07, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MXC and SPY?
Over the past 3 years, MXC and SPY moved with a correlation of -0.07, which is near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (-0.08) sits close to the 3-year figure. Over 5 years the correlation is 0.05, and the annualized covariance of weekly returns is -63.9 %².
By 3-year correlation, SPY places #11 of the 56 assets tracked against MXC. Neither side won the trailing year by much: +21.6% against +20.6%. One caveat on sizing: MXC is 4.3 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.
MXC vs SPY: side by side
| MXC (Mexco Energy Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +21.6% | +20.6% |
| 5-year return | +7.2% | +82.4% |
| Volatility (ann.) | 62.1% | 14.5% |
| Beta vs S&P 500 | -0.31 | 1.00 |
| Max drawdown (3Y) | -60.6% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 13.0 | – |
| Dividend yield | 1.02% | 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 | MXC | SPY |
|---|---|---|
| 2022 | +33.0% | -18.2% |
| 2023 | -26.2% | +26.2% |
| 2024 | +24.6% | +24.9% |
| 2025 | -10.8% | +17.7% |
| 2026 | -0.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MXC and SPY good diversifiers for each other?
By historical standards, yes. A correlation of -0.07 means the two rarely move for the same reasons.
FAQ
What is the correlation between MXC and SPY?
The MXC/SPY correlation stands at -0.07 on a 3-year window (1 year: -0.08, 5 years: 0.05), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for MXC?
By historical standards, yes. A correlation of -0.07 means the two rarely move for the same reasons.
What does a correlation of -0.07 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: MXC correlations · SPY correlations
