INTU vs SPY: Correlation
Measured on weekly returns over the past three years, Intuit (INTU) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INTU and SPY?
On 3 years of weekly data the INTU/SPY correlation comes out at 0.28, weak. The link has loosened recently: the 1-year correlation (0.08) runs below the 3-year figure (0.28). The 5-year figure is 0.51, and annualized covariance runs at 146.9 %².
By 3-year correlation, SPY places #18 of the 45 assets tracked against INTU. The last year tells two different stories: SPY led by 67.5 percentage points, -46.9% for INTU against +20.6% for SPY. This link changes with the market regime, having swung between 0.07 and 0.76 on a rolling one-year basis. Note the risk asymmetry: INTU runs 2.5 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.
INTU vs SPY: side by side
| INTU (Intuit) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -46.9% | +20.6% |
| 5-year return | -36.2% | +82.4% |
| Volatility (ann.) | 36.2% | 14.5% |
| Beta vs S&P 500 | 0.70 | 1.00 |
| Max drawdown (3Y) | -68.2% | -18.8% |
| Market cap | $95.2B | – |
| P/E (trailing) | 21.0 | – |
| Dividend yield | 1.39% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Information Technology | 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 | INTU | SPY |
|---|---|---|
| 2022 | -39.1% | -18.2% |
| 2023 | +61.8% | +26.2% |
| 2024 | +1.2% | +24.9% |
| 2025 | +6.1% | +17.7% |
| 2026 | -47.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.14% of SPY is INTU itself, so the fund partly moves with the stock by construction.
Are INTU and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between INTU and SPY?
Using weekly returns as of 2026-08-27: 0.28 over 3 years, with 0.08 over the last year and 0.51 over 5 years.
Is SPY a good diversifier for INTU?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 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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Related comparisons
Hubs: INTU correlations · SPY correlations
