MYE vs SPY: Correlation
Measured on weekly returns over the past three years, Myers Industries, Inc. (MYE) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MYE and SPY?
Over the past 3 years, MYE and SPY moved with a correlation of 0.27, which is weak. The link has loosened recently: the 1-year correlation (0.10) runs below the 3-year figure (0.27). Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 151.7 %².
By 3-year correlation, SPY places #7 of the 13 assets tracked against MYE. The last year tells two different stories: MYE led by 81.3 percentage points, +101.9% for MYE against +20.6% for SPY. Risk is not evenly split, since MYE carries 2.7 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.
MYE vs SPY: side by side
| MYE (Myers Industries, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +101.9% | +20.6% |
| 5-year return | +70.0% | +82.4% |
| Volatility (ann.) | 39.3% | 14.5% |
| Beta vs S&P 500 | 0.73 | 1.00 |
| Max drawdown (3Y) | -59.0% | -18.8% |
| Market cap | $1.3B | – |
| P/E (trailing) | 24.8 | – |
| Dividend yield | 1.62% | 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 | MYE | SPY |
|---|---|---|
| 2022 | +14.0% | -18.2% |
| 2023 | -9.5% | +26.2% |
| 2024 | -41.4% | +24.9% |
| 2025 | +75.7% | +17.7% |
| 2026 | +79.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MYE and SPY good diversifiers for each other?
Reasonably. At 0.27, MYE and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MYE and SPY?
The MYE/SPY correlation stands at 0.27 on a 3-year window (1 year: 0.10, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for MYE?
Reasonably. At 0.27, MYE and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.27 mean?
A reading of 0.27 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: MYE correlations · SPY correlations
