ICE vs SPGI: Correlation
Intercontinental Exchange (ICE) and S&P Global (SPGI) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICE and SPGI?
Across a 3-year window, the weekly returns of ICE and SPGI correlate at 0.59, moderate. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 307.0 %².
SPGI is one of the assets that tracks ICE most closely: it ranks #2 out of the 31 assets we track against ICE. Over the last 12 months ICE came out ahead by 7.7 percentage points (-7.9% against -15.6%). On a rolling one-year basis the correlation drifted between 0.47 and 0.78, a moderate band.
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.
ICE vs SPGI: side by side
| ICE (Intercontinental Exchange) | SPGI (S&P Global) | |
|---|---|---|
| 1-year return | -7.9% | -15.6% |
| 5-year return | +44.2% | +8.1% |
| Volatility (ann.) | 21.2% | 24.7% |
| Beta vs S&P 500 | 0.62 | 0.86 |
| Max drawdown (3Y) | -33.9% | -30.5% |
| Market cap | $90.5B | $128.4B |
| P/E (trailing) | 22.7 | 26.6 |
| Dividend yield | 1.24% | 0.88% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | ICE | SPGI |
|---|---|---|
| 2022 | -23.9% | -28.4% |
| 2023 | +27.1% | +32.8% |
| 2024 | +17.5% | +13.9% |
| 2025 | +9.9% | +5.7% |
| 2026 | +0.2% | -11.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICE and SPGI good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ICE and SPGI?
The ICE/SPGI correlation stands at 0.59 on a 3-year window (1 year: 0.55, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is SPGI a good diversifier for ICE?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ice-vs-spgi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ice-vs-spgi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ICE correlations · SPGI correlations
