SMXT vs SPY: Correlation
How closely do Solarmax Technology Inc. (SMXT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.04, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMXT and SPY?
Across a 3-year window, the weekly returns of SMXT and SPY correlate at 0.04, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.04) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 503.8 %².
Out of 10 assets tracked against SMXT, SPY lands near the bottom at #6. Correlation aside, the last 12 months split them widely, with SMXT ahead by 119.1 points (+139.7% versus +20.6%). One caveat on sizing: SMXT is 65.3 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.
SMXT vs SPY: side by side
| SMXT (Solarmax Technology Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +139.7% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 947.0% | 14.5% |
| Beta vs S&P 500 | 2.41 | 1.00 |
| Max drawdown (3Y) | -98.0% | -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 | SMXT | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | – | +24.9% |
| 2025 | -49.3% | +17.7% |
| 2026 | +267.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMXT and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.04 means the two rarely move for the same reasons.
FAQ
What is the correlation between SMXT and SPY?
As of 2026-08-27, the correlation of weekly returns between SMXT and SPY is 0.04 over 3 years, 0.04 over 1 year and n/a over 5 years.
Is SPY a good diversifier for SMXT?
By historical standards, yes. A correlation of 0.04 means the two rarely move for the same reasons.
What does a correlation of 0.04 mean?
On the −1 to +1 scale, 0.04 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: SMXT correlations · SPY correlations
