PWCM vs SPY: Correlation
How closely do PowerCompute, Inc. (PWCM) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PWCM and SPY?
On 3 years of weekly data the PWCM/SPY correlation comes out at 0.27, weak. Recent behaviour matches the longer record: 0.23 over 1 year against 0.27 over 3. The 5-year figure is 0.29, and annualized covariance runs at 449.6 %².
Among the 16 assets we track against PWCM, SPY ranks #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 116.7 points (-96.1% versus +20.6%). One caveat on sizing: PWCM is 8.0 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.
PWCM vs SPY: side by side
| PWCM (PowerCompute, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -96.1% | +20.6% |
| 5-year return | -99.8% | +82.4% |
| Volatility (ann.) | 115.8% | 14.5% |
| Beta vs S&P 500 | 2.15 | 1.00 |
| Max drawdown (3Y) | -99.3% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 0.0 | – |
| 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 | PWCM | SPY |
|---|---|---|
| 2022 | -88.6% | -18.2% |
| 2023 | +11.8% | +26.2% |
| 2024 | -41.9% | +24.9% |
| 2025 | -79.3% | +17.7% |
| 2026 | -88.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PWCM and SPY good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PWCM and SPY?
The PWCM/SPY correlation stands at 0.27 on a 3-year window (1 year: 0.23, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for PWCM?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: PWCM correlations · SPY correlations
