NMTC vs SPY: Correlation
NeuroOne Medical Technologies Corporation (NMTC) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NMTC and SPY?
On 3 years of weekly data the NMTC/SPY correlation comes out at 0.20, weak. The past 12 months show a weaker link (0.08) than the 3-year average (0.20). The 5-year figure is 0.10, and annualized covariance runs at 242.8 %².
Out of 13 assets tracked against NMTC, SPY lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 76.6 percentage points (-56.0% for NMTC against +20.6% for SPY). One caveat on sizing: NMTC is 5.8 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.
NMTC vs SPY: side by side
| NMTC (NeuroOne Medical Technologies Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -56.0% | +20.6% |
| 5-year return | -91.3% | +82.4% |
| Volatility (ann.) | 83.8% | 14.5% |
| Beta vs S&P 500 | 1.16 | 1.00 |
| Max drawdown (3Y) | -86.8% | -18.8% |
| Market cap | – | – |
| 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 | NMTC | SPY |
|---|---|---|
| 2022 | -38.1% | -18.2% |
| 2023 | +31.7% | +26.2% |
| 2024 | -47.7% | +24.9% |
| 2025 | -8.2% | +17.7% |
| 2026 | -56.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NMTC and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NMTC and SPY?
Using weekly returns as of 2026-08-27: 0.20 over 3 years, with 0.08 over the last year and 0.10 over 5 years.
Is SPY a good diversifier for NMTC?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.20 mean?
On the −1 to +1 scale, 0.20 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: NMTC correlations · SPY correlations
