OPTX vs SPY: Correlation
How closely do Syntec Optics Holdings, Inc. (OPTX) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.07, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OPTX and SPY?
On 3 years of weekly data the OPTX/SPY correlation comes out at 0.07, near zero, meaning they move largely independently. The past 12 months show a tighter link (0.28) than the 3-year average (0.07). The 5-year figure is 0.06, and annualized covariance runs at 207.9 %².
SPY is close to the least connected end of OPTX's tracked universe, ranking #8 of 12. The last year tells two different stories: OPTX led by 428.5 percentage points, +449.1% for OPTX against +20.6% for SPY. One caveat on sizing: OPTX is 13.2 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.
OPTX vs SPY: side by side
| OPTX (Syntec Optics Holdings, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +449.1% | +20.6% |
| 5-year return | -11.3% | +82.4% |
| Volatility (ann.) | 192.0% | 14.5% |
| Beta vs S&P 500 | 1.00 | 1.00 |
| Max drawdown (3Y) | -93.0% | -18.8% |
| Market cap | $0.4B | – |
| 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 | OPTX | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | -49.7% | +26.2% |
| 2024 | -49.9% | +24.9% |
| 2025 | +13.5% | +17.7% |
| 2026 | +205.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OPTX and SPY good diversifiers for each other?
Yes: at 0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OPTX and SPY?
The OPTX/SPY correlation stands at 0.07 on a 3-year window (1 year: 0.28, 5 years: 0.06), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for OPTX?
Yes: at 0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.07 mean?
On the −1 to +1 scale, 0.07 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: OPTX correlations · SPY correlations
