^GSPC vs. SMCI
^GSPC (S&P 500 Index) is an index, while SMCI (Super Micro Computer, Inc.) is a stock. Over the past 10 years, ^GSPC returned 13.09%/yr vs 28.09%/yr for SMCI. At a 0.48 correlation, their price movements are largely independent.
Performance
^GSPC vs. SMCI - Performance Comparison
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Returns By Period
In the year-to-date period, ^GSPC achieves a 8.73% return, which is significantly higher than SMCI's -18.59% return. Over the past 10 years, ^GSPC has underperformed SMCI with an annualized return of 13.09%, while SMCI has yielded a comparatively higher 28.09% annualized return.
^GSPC
- 1D
- -0.19%
- 1M
- -0.76%
- 6M
- 7.25%
- YTD
- 8.73%
- 1Y
- 18.21%
- 3Y*
- 17.95%
- 5Y*
- 11.30%
- 10Y*
- 13.09%
- ALL TIME*
- 8.08%
SMCI
- 1D
- -1.45%
- 1M
- -22.28%
- 6M
- -26.99%
- YTD
- -18.59%
- 1Y
- -53.97%
- 3Y*
- -7.71%
- 5Y*
- 46.65%
- 10Y*
- 28.09%
- ALL TIME*
- 18.59%
^GSPC vs. SMCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^GSPC S&P 500 Index | 8.73% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
SMCI Super Micro Computer, Inc. | -18.59% | -3.97% | 7.23% | 246.24% | 86.80% | 38.82% | 31.81% | 74.06% | -34.07% | -25.38% |
Correlation
The correlation between ^GSPC and SMCI is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2007 | 0.48 |
The correlation between ^GSPC and SMCI has been stable across timeframes, ranging from 0.46 to 0.54 - a consistent structural relationship.
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Return for Risk
^GSPC vs. SMCI — Risk / Return Rank
^GSPC
SMCI
^GSPC vs. SMCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for S&P 500 Index (^GSPC) and Super Micro Computer, Inc. (SMCI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^GSPC | SMCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.07 | ||
| Sortino ratioReturn per unit of downside risk | +2.61 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.92 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | -0.82 | +2.83 |
| Martin ratioReturn relative to average drawdown | 8.68 | -1.27 | +9.95 |
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Drawdowns
^GSPC vs. SMCI - Drawdown Comparison
The maximum ^GSPC drawdown since its inception was -56.78%, smaller than the maximum SMCI drawdown of -84.84%. Use the drawdown chart below to compare losses from any high point for ^GSPC and SMCI.
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Drawdown Indicators
| ^GSPC | SMCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.78% | -84.84% | +28.06% |
Max Drawdown (1Y)Largest decline over 1 year | -9.10% | -66.18% | +57.08% |
Max Drawdown (3Y)Largest decline over 3 years | -18.90% | -84.84% | +65.94% |
Max Drawdown (5Y)Largest decline over 5 years | -25.43% | -84.84% | +59.41% |
Max Drawdown (10Y)Largest decline over 10 years | -33.92% | -84.84% | +50.92% |
Current DrawdownCurrent decline from peak | -2.19% | -79.94% | +77.75% |
Average DrawdownAverage peak-to-trough decline | -10.70% | -32.20% | +21.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.10% | 42.59% | -40.49% |
Volatility
^GSPC vs. SMCI - Volatility Comparison
The current volatility for S&P 500 Index (^GSPC) is 3.13%, while Super Micro Computer, Inc. (SMCI) has a volatility of 25.95%. This indicates that ^GSPC experiences smaller price fluctuations and is considered to be less risky than SMCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^GSPC | SMCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 25.95% | -22.82% |
Volatility (6M)Calculated over the trailing 6-month period | 10.04% | 79.52% | -69.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.62% | 87.18% | -74.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.98% | 87.36% | -70.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.06% | 71.08% | -53.02% |
Frequently Asked Questions
^GSPC and SMCI have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMCI has higher volatility (25.95%) compared to ^GSPC (3.13%). In terms of maximum drawdown, ^GSPC dropped -56.78% vs SMCI's -84.84%.
^GSPC currently has the higher Sharpe Ratio (1.45 vs -0.62), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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