IOT vs SPY: Correlation
How closely do Samsara Inc. (IOT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IOT and SPY?
On 3 years of weekly data the IOT/SPY correlation comes out at 0.42, moderate. The past 12 months show a weaker link (0.21) than the 3-year average (0.42). The 5-year figure is 0.44, and annualized covariance runs at 363.6 %².
By 3-year correlation, SPY places #13 of the 18 assets tracked against IOT. Their 12-month results are close: +17.4% for IOT against +20.6% for SPY. Risk is not evenly split, since IOT carries 4.1 times the volatility of the other side.
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.
IOT vs SPY: side by side
| IOT (Samsara Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +17.4% | +20.6% |
| 5-year return | +69.5% | +82.4% |
| Volatility (ann.) | 59.7% | 14.5% |
| Beta vs S&P 500 | 1.74 | 1.00 |
| Max drawdown (3Y) | -60.2% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 418.7 | – |
| 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 | IOT | SPY |
|---|---|---|
| 2022 | -55.8% | -18.2% |
| 2023 | +168.5% | +26.2% |
| 2024 | +30.9% | +24.9% |
| 2025 | -18.9% | +17.7% |
| 2026 | +18.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IOT and SPY good diversifiers for each other?
Reasonably. At 0.42, IOT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IOT and SPY?
As of 2026-08-27, the correlation of weekly returns between IOT and SPY is 0.42 over 3 years, 0.21 over 1 year and 0.44 over 5 years.
Is SPY a good diversifier for IOT?
Reasonably. At 0.42, IOT and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 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: IOT correlations · SPY correlations
