QMCO vs SPY: Correlation
Measured on weekly returns over the past three years, Quantum Corporation (QMCO) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.18, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QMCO and SPY?
Across a 3-year window, the weekly returns of QMCO and SPY correlate at 0.18, weak. Little has changed lately, as the 1-year reading of 0.26 lands near the 3-year figure. Stretching to 5 years gives 0.23, with an annualized covariance of 511.4 %².
SPY is close to the least connected end of QMCO's tracked universe, ranking #10 of 13. The last year tells two different stories: QMCO led by 200.8 percentage points, +221.4% for QMCO against +20.6% for SPY. Risk is not evenly split, since QMCO carries 13.5 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.
QMCO vs SPY: side by side
| QMCO (Quantum Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +221.4% | +20.6% |
| 5-year return | -80.7% | +82.4% |
| Volatility (ann.) | 196.4% | 14.5% |
| Beta vs S&P 500 | 2.45 | 1.00 |
| Max drawdown (3Y) | -93.9% | -18.8% |
| Market cap | $0.9B | – |
| 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 | QMCO | SPY |
|---|---|---|
| 2022 | -80.3% | -18.2% |
| 2023 | -67.9% | +26.2% |
| 2024 | +670.3% | +24.9% |
| 2025 | -88.0% | +17.7% |
| 2026 | +265.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QMCO and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between QMCO and SPY?
Using weekly returns as of 2026-08-27: 0.18 over 3 years, with 0.26 over the last year and 0.23 over 5 years.
Is SPY a good diversifier for QMCO?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
What does a correlation of 0.18 mean?
On the −1 to +1 scale, 0.18 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: QMCO correlations · SPY correlations
