INTJ vs SPY: Correlation
How closely do Intelligent Group Limited - Class A (INTJ) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.19, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INTJ and SPY?
Over the past 3 years, INTJ and SPY moved with a correlation of 0.19, which is weak. Recent behaviour matches the longer record: 0.12 over 1 year against 0.19 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 269.4 %².
By 3-year correlation, SPY places #7 of the 21 assets tracked against INTJ. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 88.9 percentage points (-68.3% for INTJ against +20.6% for SPY). One caveat on sizing: INTJ is 6.4 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.
INTJ vs SPY: side by side
| INTJ (Intelligent Group Limited - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -68.3% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 93.5% | 14.5% |
| Beta vs S&P 500 | 1.29 | 1.00 |
| Max drawdown (3Y) | -96.2% | -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 | INTJ | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | – | +24.9% |
| 2025 | -49.6% | +17.7% |
| 2026 | -71.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INTJ and SPY good diversifiers for each other?
Yes. With a correlation of 0.19, INTJ and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between INTJ and SPY?
The INTJ/SPY correlation stands at 0.19 on a 3-year window (1 year: 0.12, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for INTJ?
Yes. With a correlation of 0.19, INTJ and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.19 mean?
On the −1 to +1 scale, 0.19 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.
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Hubs: INTJ correlations · SPY correlations
