NEOV vs SPY: Correlation
NeoVolta Inc. (NEOV) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEOV and SPY?
Over the past 3 years, NEOV and SPY moved with a correlation of 0.17, which is weak. The relationship has been stable: the 1-year correlation (0.08) sits close to the 3-year figure. Over 5 years the correlation is 0.13, and the annualized covariance of weekly returns is 276.0 %².
Within NEOV's tracked universe of 14 assets, SPY comes in at #7 by 3-year correlation. The last year tells two different stories: SPY led by 19.2 percentage points, +1.4% for NEOV against +20.6% for SPY. One caveat on sizing: NEOV is 7.7 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.
NEOV vs SPY: side by side
| NEOV (NeoVolta Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +1.4% | +20.6% |
| 5-year return | -45.4% | +82.4% |
| Volatility (ann.) | 111.0% | 14.5% |
| Beta vs S&P 500 | 1.32 | 1.00 |
| Max drawdown (3Y) | -79.4% | -18.8% |
| Market cap | $0.2B | – |
| 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 | NEOV | SPY |
|---|---|---|
| 2022 | -60.2% | -18.2% |
| 2023 | -42.7% | +26.2% |
| 2024 | +225.6% | +24.9% |
| 2025 | -41.7% | +17.7% |
| 2026 | +16.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEOV and SPY good diversifiers for each other?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NEOV and SPY?
Using weekly returns as of 2026-08-27: 0.17 over 3 years, with 0.08 over the last year and 0.13 over 5 years.
Is SPY a good diversifier for NEOV?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.17 mean?
On the −1 to +1 scale, 0.17 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: NEOV correlations · SPY correlations
