RAYA vs SPY: Correlation
How closely do Erayak Power Solution Group Inc. - Class A (RAYA) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.01, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RAYA and SPY?
On 3 years of weekly data the RAYA/SPY correlation comes out at 0.01, near zero, meaning they move largely independently. The past 12 months show a tighter link (0.21) than the 3-year average (0.01). The 5-year figure is 0.05, and annualized covariance runs at 34.9 %².
Among the 20 assets we track against RAYA, SPY ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 118.4 points (-97.8% versus +20.6%). Note the risk asymmetry: RAYA runs 11.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
RAYA vs SPY: side by side
| RAYA (Erayak Power Solution Group Inc. - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -97.8% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 162.4% | 14.5% |
| Beta vs S&P 500 | 0.17 | 1.00 |
| Max drawdown (3Y) | -100.0% | -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 | RAYA | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | -44.7% | +26.2% |
| 2024 | +23.6% | +24.9% |
| 2025 | -98.7% | +17.7% |
| 2026 | -94.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RAYA and SPY good diversifiers for each other?
Yes: at 0.01, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between RAYA and SPY?
The RAYA/SPY correlation stands at 0.01 on a 3-year window (1 year: 0.21, 5 years: 0.05), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for RAYA?
Yes: at 0.01, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.01 mean?
On the −1 to +1 scale, 0.01 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: RAYA correlations · SPY correlations
