MXCT vs SPY: Correlation
MaxCyte, Inc. (MXCT) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MXCT and SPY?
Across a 3-year window, the weekly returns of MXCT and SPY correlate at 0.31, moderate. Little has changed lately, as the 1-year reading of 0.39 lands near the 3-year figure. Stretching to 5 years gives 0.41, with an annualized covariance of 282.2 %².
Among the 11 assets we track against MXCT, SPY sits near the bottom by co-movement, at rank #7. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 29.2 percentage points (-8.6% for MXCT against +20.6% for SPY). Note the risk asymmetry: MXCT runs 4.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MXCT vs SPY: side by side
| MXCT (MaxCyte, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -8.6% | +20.6% |
| 5-year return | -91.7% | +82.4% |
| Volatility (ann.) | 63.0% | 14.5% |
| Beta vs S&P 500 | 1.35 | 1.00 |
| Max drawdown (3Y) | -87.4% | -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 | MXCT | SPY |
|---|---|---|
| 2022 | -46.4% | -18.2% |
| 2023 | -13.9% | +26.2% |
| 2024 | -11.5% | +24.9% |
| 2025 | -62.7% | +17.7% |
| 2026 | -17.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MXCT and SPY good diversifiers for each other?
Reasonably. At 0.31, MXCT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MXCT and SPY?
Using weekly returns as of 2026-08-27: 0.31 over 3 years, with 0.39 over the last year and 0.41 over 5 years.
Is SPY a good diversifier for MXCT?
Reasonably. At 0.31, MXCT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.31 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: MXCT correlations · SPY correlations
