SMCI vs SPYG: Correlation
Measured on weekly returns over the past three years, Supermicro (SMCI) and SPDR Portfolio S&P 500 Growth ETF (SPYG) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMCI and SPYG?
Over the past 3 years, SMCI and SPYG moved with a correlation of 0.45, which is moderate. The relationship has been stable: the 1-year correlation (0.39) sits close to the 3-year figure. Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 904.7 %².
By 3-year correlation, SPYG places #15 of the 29 assets tracked against SMCI. Correlation aside, the last 12 months split them widely, with SPYG ahead by 36.5 points (-14.1% versus +22.4%). Across three years, the rolling one-year figure varied moderately, from 0.26 to 0.59. Note the risk asymmetry: SMCI runs 5.7 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.
SMCI vs SPYG: side by side
| SMCI (Supermicro) | SPYG (SPDR Portfolio S&P 500 Growth ETF) | |
|---|---|---|
| 1-year return | -14.1% | +22.4% |
| 5-year return | +983.4% | +85.9% |
| Volatility (ann.) | 107.1% | 18.9% |
| Beta vs S&P 500 | 3.08 | 1.25 |
| Max drawdown (3Y) | -84.8% | -22.1% |
| Market cap | $24.9B | – |
| P/E (trailing) | 11.5 | – |
| Dividend yield | 0.00% | 0.49% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $52.2B |
| Sector / category | Information Technology | ETF · US Style |
SPYG is a Large Growth fund from State Street Investment Management: $52.2B under management, 148 holdings, a 0.04% expense ratio, a 0.49% trailing dividend yield.
Year-by-year returns
| Year | SMCI | SPYG |
|---|---|---|
| 2022 | +86.8% | -29.4% |
| 2023 | +246.2% | +30.0% |
| 2024 | +7.2% | +36.0% |
| 2025 | -4.0% | +22.1% |
| 2026 | +31.4% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMCI and SPYG good diversifiers for each other?
Reasonably. At 0.45, SMCI and SPYG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SMCI and SPYG?
As of 2026-08-27, the correlation of weekly returns between SMCI and SPYG is 0.45 over 3 years, 0.39 over 1 year and 0.37 over 5 years.
Is SPYG a good diversifier for SMCI?
Reasonably. At 0.45, SMCI and SPYG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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/smci-vs-spyg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/smci-vs-spyg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SMCI correlations · SPYG correlations
