INLX vs SPY: Correlation
Measured on weekly returns over the past three years, Intellinetics, Inc. (INLX) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of -0.02, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INLX and SPY?
On 3 years of weekly data the INLX/SPY correlation comes out at -0.02, near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.06 over 1 year against -0.02 over 3. The 5-year figure is 0.08, and annualized covariance runs at -14.1 %².
By 3-year correlation, SPY places #7 of the 24 assets tracked against INLX. Correlation aside, the last 12 months split them widely, with SPY ahead by 67.0 points (-46.4% versus +20.6%). One caveat on sizing: INLX is 4.1 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.
INLX vs SPY: side by side
| INLX (Intellinetics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -46.4% | +20.6% |
| 5-year return | +7.4% | +82.4% |
| Volatility (ann.) | 60.0% | 14.5% |
| Beta vs S&P 500 | -0.07 | 1.00 |
| Max drawdown (3Y) | -65.9% | -18.8% |
| Market cap | – | – |
| 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 | INLX | SPY |
|---|---|---|
| 2022 | -43.5% | -18.2% |
| 2023 | +18.5% | +26.2% |
| 2024 | +171.7% | +24.9% |
| 2025 | -42.0% | +17.7% |
| 2026 | -34.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INLX and SPY good diversifiers for each other?
Yes: at -0.02, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between INLX and SPY?
The INLX/SPY correlation stands at -0.02 on a 3-year window (1 year: 0.06, 5 years: 0.08), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for INLX?
Yes: at -0.02, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.02 mean?
On the −1 to +1 scale, -0.02 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/inlx-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/inlx-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: INLX correlations · SPY correlations
