ROMA vs SPY: Correlation
Measured on weekly returns over the past three years, Roma Green Finance Limited - Class A (ROMA) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.05, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ROMA and SPY?
Across a 3-year window, the weekly returns of ROMA and SPY correlate at 0.05, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.09) runs below the 3-year figure (0.05). Stretching to 5 years gives n/a, with an annualized covariance of 97.5 %².
Out of 11 assets tracked against ROMA, SPY lands near the bottom at #7. Their recent paths diverged sharply: over the last 12 months ROMA outperformed by 243.0 percentage points (+263.6% for ROMA against +20.6% for SPY). One caveat on sizing: ROMA is 8.5 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.
ROMA vs SPY: side by side
| ROMA (Roma Green Finance Limited - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +263.6% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 122.9% | 14.5% |
| Beta vs S&P 500 | 0.47 | 1.00 |
| Max drawdown (3Y) | -88.0% | -18.8% |
| Market cap | $0.5B | – |
| 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 | ROMA | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | – | +24.9% |
| 2025 | +116.7% | +17.7% |
| 2026 | +442.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ROMA and SPY good diversifiers for each other?
Yes. With a correlation of 0.05, ROMA and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ROMA and SPY?
As of 2026-08-27, the correlation of weekly returns between ROMA and SPY is 0.05 over 3 years, -0.09 over 1 year and n/a over 5 years.
Is SPY a good diversifier for ROMA?
Yes. With a correlation of 0.05, ROMA and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.05 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: ROMA correlations · SPY correlations
