SLMT vs SPY: Correlation
Brera Holdings PLC - Class B (SLMT) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SLMT and SPY?
Across a 3-year window, the weekly returns of SLMT and SPY correlate at 0.17, weak. The past 12 months show a tighter link (0.32) than the 3-year average (0.17). Stretching to 5 years gives n/a, with an annualized covariance of 346.3 %².
Among the 10 assets we track against SLMT, SPY sits near the bottom by co-movement, at rank #7. Correlation aside, the last 12 months split them widely, with SPY ahead by 113.3 points (-92.7% versus +20.6%). Risk is not evenly split, since SLMT carries 9.6 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.
SLMT vs SPY: side by side
| SLMT (Brera Holdings PLC - Class B) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -92.7% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 139.8% | 14.5% |
| Beta vs S&P 500 | 1.66 | 1.00 |
| Max drawdown (3Y) | -98.8% | -18.8% |
| Market cap | $0.1B | – |
| 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 | SLMT | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | +25.5% | +24.9% |
| 2025 | -77.3% | +17.7% |
| 2026 | -75.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SLMT and SPY good diversifiers for each other?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SLMT and SPY?
As of 2026-08-27, the correlation of weekly returns between SLMT and SPY is 0.17 over 3 years, 0.32 over 1 year and n/a over 5 years.
Is SPY a good diversifier for SLMT?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.17 mean?
On the −1 to +1 scale, 0.17 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/slmt-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/slmt-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SLMT correlations · SPY correlations
