IMPP vs SPY: Correlation
How closely do Imperial Petroleum Inc. (IMPP) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.03, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IMPP and SPY?
On 3 years of weekly data the IMPP/SPY correlation comes out at 0.03, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (-0.01) sits close to the 3-year figure. The 5-year figure is 0.07, and annualized covariance runs at 24.2 %².
Among the 11 assets we track against IMPP, SPY sits near the bottom by co-movement, at rank #8. The last year tells two different stories: IMPP led by 32.7 percentage points, +53.3% for IMPP against +20.6% for SPY. One caveat on sizing: IMPP is 3.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
IMPP vs SPY: side by side
| IMPP (Imperial Petroleum Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +53.3% | +20.6% |
| 5-year return | -95.5% | +82.4% |
| Volatility (ann.) | 51.6% | 14.5% |
| Beta vs S&P 500 | 0.12 | 1.00 |
| Max drawdown (3Y) | -49.8% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 3.1 | – |
| 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 | IMPP | SPY |
|---|---|---|
| 2022 | -88.7% | -18.2% |
| 2023 | -27.0% | +26.2% |
| 2024 | +14.0% | +24.9% |
| 2025 | +20.3% | +17.7% |
| 2026 | +39.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IMPP and SPY good diversifiers for each other?
Yes. With a correlation of 0.03, IMPP and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IMPP and SPY?
The IMPP/SPY correlation stands at 0.03 on a 3-year window (1 year: -0.01, 5 years: 0.07), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for IMPP?
Yes. With a correlation of 0.03, IMPP and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.03 mean?
A reading of 0.03 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: IMPP correlations · SPY correlations
