IART vs SPY: Correlation
Measured on weekly returns over the past three years, Integra LifeSciences Holdings Corporation (IART) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IART and SPY?
Over the past 3 years, IART and SPY moved with a correlation of 0.41, which is moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.41 over 3. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 347.6 %².
SPY is close to the least connected end of IART's tracked universe, ranking #12 of 16. The trailing year gives SPY the advantage: +13.3% versus +20.6%, a 7.3-point spread. Note the risk asymmetry: IART runs 4.0 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.
IART vs SPY: side by side
| IART (Integra LifeSciences Holdings Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +13.3% | +20.6% |
| 5-year return | -77.0% | +82.4% |
| Volatility (ann.) | 58.0% | 14.5% |
| Beta vs S&P 500 | 1.66 | 1.00 |
| Max drawdown (3Y) | -80.3% | -18.8% |
| Market cap | $1.3B | – |
| 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 | IART | SPY |
|---|---|---|
| 2022 | -16.3% | -18.2% |
| 2023 | -22.3% | +26.2% |
| 2024 | -47.9% | +24.9% |
| 2025 | -45.2% | +17.7% |
| 2026 | +35.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IART and SPY good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IART and SPY?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.36 over the last year and 0.41 over 5 years.
Is SPY a good diversifier for IART?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
A reading of 0.41 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: IART correlations · SPY correlations
