IDR vs SPY: Correlation
Idaho Strategic Resources, Inc. (IDR) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.13.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDR and SPY?
Over the past 3 years, IDR and SPY moved with a correlation of 0.13, which is weak. Lately the two have moved closer together, with the 1-year correlation at 0.41 versus 0.13 over 3 years. Over 5 years the correlation is 0.10, and the annualized covariance of weekly returns is 142.5 %².
By 3-year correlation, SPY places #8 of the 18 assets tracked against IDR. Over the last 12 months IDR came out ahead by 5.7 percentage points (+26.3% against +20.6%). Note the risk asymmetry: IDR runs 5.1 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.
IDR vs SPY: side by side
| IDR (Idaho Strategic Resources, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +26.3% | +20.6% |
| 5-year return | +702.8% | +82.4% |
| Volatility (ann.) | 73.6% | 14.5% |
| Beta vs S&P 500 | 0.68 | 1.00 |
| Max drawdown (3Y) | -50.0% | -18.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 22.6 | – |
| 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 | IDR | SPY |
|---|---|---|
| 2022 | -23.4% | -18.2% |
| 2023 | +11.1% | +26.2% |
| 2024 | +61.0% | +24.9% |
| 2025 | +295.5% | +17.7% |
| 2026 | -16.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDR and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
FAQ
What is the correlation between IDR and SPY?
The IDR/SPY correlation stands at 0.13 on a 3-year window (1 year: 0.41, 5 years: 0.10), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for IDR?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
What does a correlation of 0.13 mean?
On the −1 to +1 scale, 0.13 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/idr-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/idr-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IDR correlations · SPY correlations
