NA vs. SPY
NA (Nano Labs Ltd (NA)) is a stock, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 3 years, NA returned -52.48%/yr vs 20.07%/yr for SPY. At a 0.15 correlation, their price movements are largely independent.
Performance
NA vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, NA achieves a -42.54% return, which is significantly lower than SPY's 10.45% return.
NA
- 1D
- -8.59%
- 1M
- 2.84%
- 6M
- -47.54%
- YTD
- -42.54%
- 1Y
- -76.58%
- 3Y*
- -52.48%
- 5Y*
- —
- 10Y*
- —
SPY
- 1D
- -0.77%
- 1M
- 1.26%
- 6M
- 8.34%
- YTD
- 10.45%
- 1Y
- 21.46%
- 3Y*
- 20.07%
- 5Y*
- 12.94%
- 10Y*
- 15.08%
NA vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NA Nano Labs Ltd (NA) | -42.54% | -64.81% | -50.55% | 57.40% | -84.89% |
SPY State Street SPDR S&P 500 ETF | 10.45% | 17.72% | 24.89% | 26.18% | 0.40% |
Correlation
The correlation between NA and SPY is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2022 | 0.15 |
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Return for Risk
NA vs. SPY — Risk / Return Rank
NA
SPY
NA vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nano Labs Ltd (NA) (NA) and State Street SPDR S&P 500 ETF (SPY). 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.
| NA | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.51 | ||
| Sortino ratioReturn per unit of downside risk | -3.75 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.31 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 2.43 | -3.37 |
| Martin ratioReturn relative to average drawdown | -1.28 | 10.57 | -11.86 |
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Drawdowns
NA vs. SPY - Drawdown Comparison
The maximum NA drawdown since its inception was -98.67%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for NA and SPY.
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Drawdown Indicators
| NA | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.67% | -55.19% | -43.48% |
Max Drawdown (1Y)Largest decline over 1 year | -81.95% | -8.88% | -73.07% |
Max Drawdown (3Y)Largest decline over 3 years | -92.70% | -18.76% | -73.94% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -98.50% | -1.12% | -97.38% |
Average DrawdownAverage peak-to-trough decline | -90.30% | -9.02% | -81.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 59.69% | 2.03% | +57.66% |
Volatility
NA vs. SPY - Volatility Comparison
Nano Labs Ltd (NA) (NA) has a higher volatility of 27.72% compared to State Street SPDR S&P 500 ETF (SPY) at 4.26%. This indicates that NA's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NA | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.72% | 4.26% | +23.46% |
Volatility (6M)Calculated over the trailing 6-month period | 69.06% | 10.01% | +59.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 97.44% | 12.60% | +84.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 167.88% | 17.17% | +150.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 167.88% | 17.93% | +149.95% |
Dividends
NA vs. SPY - Dividend Comparison
NA has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.00%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NA Nano Labs Ltd (NA) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.00% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
NA and SPY have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NA has higher volatility (27.72%) compared to SPY (4.26%). In terms of maximum drawdown, NA dropped -98.67% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.71 vs -0.79), 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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