SPY vs UMAC: Correlation
SPDR S&P 500 ETF Trust (SPY) and Unusual Machines, Inc. (UMAC) show a weak relationship: their 3-year correlation of weekly returns is 0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and UMAC?
Across a 3-year window, the weekly returns of SPY and UMAC correlate at 0.20, weak. The past 12 months show a tighter link (0.39) than the 3-year average (0.20). Stretching to 5 years gives n/a, with an annualized covariance of 716.2 %².
Within SPY's tracked universe of 4755 assets, UMAC comes in at #3294 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months UMAC outperformed by 136.5 percentage points (+20.6% for SPY against +157.1% for UMAC). One caveat on sizing: UMAC is 17.2 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.
SPY vs UMAC: side by side
| SPY (SPDR S&P 500 ETF Trust) | UMAC (Unusual Machines, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +157.1% |
| 5-year return | +82.4% | n/a |
| Volatility (ann.) | 14.5% | 248.9% |
| Beta vs S&P 500 | 1.00 | 3.43 |
| Max drawdown (3Y) | -18.8% | -75.6% |
| Market cap | – | $1.3B |
| P/E (trailing) | – | – |
| Dividend yield | 1.01% | 0.00% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
On the fund side, SPY sits in the Large Blend category at State Street Investment Management, with $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | UMAC |
|---|---|---|
| 2022 | -18.2% | – |
| 2023 | +26.2% | – |
| 2024 | +24.9% | – |
| 2025 | +17.7% | -24.3% |
| 2026 | +13.7% | +106.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and UMAC good diversifiers for each other?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and UMAC?
The SPY/UMAC correlation stands at 0.20 on a 3-year window (1 year: 0.39, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is UMAC a good diversifier for SPY?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.20 mean?
A reading of 0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-umac.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-umac/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPY correlations · UMAC correlations
