NWTG vs SPY: Correlation
How closely do Newton Golf Company, Inc. (NWTG) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.08, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWTG and SPY?
Across a 3-year window, the weekly returns of NWTG and SPY correlate at 0.08, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.08) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 158.6 %².
Among the 11 assets we track against NWTG, SPY sits near the bottom by co-movement, at rank #7. Correlation aside, the last 12 months split them widely, with SPY ahead by 53.2 points (-32.6% versus +20.6%). Risk is not evenly split, since NWTG carries 9.8 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.
NWTG vs SPY: side by side
| NWTG (Newton Golf Company, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -32.6% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 142.1% | 14.5% |
| Beta vs S&P 500 | 0.76 | 1.00 |
| Max drawdown (3Y) | -99.9% | -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 | NWTG | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | -93.9% | +24.9% |
| 2025 | -88.1% | +17.7% |
| 2026 | -17.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWTG and SPY good diversifiers for each other?
Yes: at 0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NWTG and SPY?
The NWTG/SPY correlation stands at 0.08 on a 3-year window (1 year: 0.08, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for NWTG?
Yes: at 0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.08 mean?
On the −1 to +1 scale, 0.08 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: NWTG correlations · SPY correlations
