NMRK vs SPY: Correlation
Newmark Group, Inc. (NMRK) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NMRK and SPY?
Over the past 3 years, NMRK and SPY moved with a correlation of 0.50, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.31 versus 0.50 over 3 years. Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 311.3 %².
Within NMRK's tracked universe of 19 assets, SPY comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 34.4 points (-13.8% versus +20.6%). One caveat on sizing: NMRK is 3.0 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.
NMRK vs SPY: side by side
| NMRK (Newmark Group, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -13.8% | +20.6% |
| 5-year return | +23.3% | +82.4% |
| Volatility (ann.) | 43.4% | 14.5% |
| Beta vs S&P 500 | 1.49 | 1.00 |
| Max drawdown (3Y) | -36.6% | -18.8% |
| Market cap | $3.8B | – |
| P/E (trailing) | 19.7 | – |
| Dividend yield | 0.95% | 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 | NMRK | SPY |
|---|---|---|
| 2022 | -57.0% | -18.2% |
| 2023 | +39.9% | +26.2% |
| 2024 | +18.1% | +24.9% |
| 2025 | +36.5% | +17.7% |
| 2026 | -9.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NMRK and SPY good diversifiers for each other?
Only partially. A correlation of 0.50 means NMRK and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between NMRK and SPY?
As of 2026-08-27, the correlation of weekly returns between NMRK and SPY is 0.50 over 3 years, 0.31 over 1 year and 0.50 over 5 years.
Is SPY a good diversifier for NMRK?
Only partially. A correlation of 0.50 means NMRK and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
A reading of 0.50 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: NMRK correlations · SPY correlations
