RMNI vs SPY: Correlation
Measured on weekly returns over the past three years, Rimini Street, Inc. (RMNI) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.29, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RMNI and SPY?
Across a 3-year window, the weekly returns of RMNI and SPY correlate at 0.29, weak. Lately the two have moved closer together, with the 1-year correlation at 0.39 versus 0.29 over 3 years. Stretching to 5 years gives 0.30, with an annualized covariance of 249.6 %².
Out of 10 assets tracked against RMNI, SPY lands near the bottom at #6. The trailing year gives RMNI the advantage: +27.6% versus +20.6%, a 7.0-point spread. Risk is not evenly split, since RMNI carries 4.1 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.
RMNI vs SPY: side by side
| RMNI (Rimini Street, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +27.6% | +20.6% |
| 5-year return | -42.9% | +82.4% |
| Volatility (ann.) | 59.7% | 14.5% |
| Beta vs S&P 500 | 1.19 | 1.00 |
| Max drawdown (3Y) | -53.5% | -18.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 76.7 | – |
| 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 | RMNI | SPY |
|---|---|---|
| 2022 | -36.2% | -18.2% |
| 2023 | -14.2% | +26.2% |
| 2024 | -18.3% | +24.9% |
| 2025 | +45.3% | +17.7% |
| 2026 | +38.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RMNI and SPY good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between RMNI and SPY?
As of 2026-08-27, the correlation of weekly returns between RMNI and SPY is 0.29 over 3 years, 0.39 over 1 year and 0.30 over 5 years.
Is SPY a good diversifier for RMNI?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 mean?
A reading of 0.29 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: RMNI correlations · SPY correlations
