IPAR vs SPY: Correlation
How closely do Interparfums, Inc. (IPAR) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPAR and SPY?
Over the past 3 years, IPAR and SPY moved with a correlation of 0.34, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.19 versus 0.34 over 3 years. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 157.5 %².
Within IPAR's tracked universe of 13 assets, SPY comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 16.1 points (+4.5% versus +20.6%). Note the risk asymmetry: IPAR runs 2.2 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.
IPAR vs SPY: side by side
| IPAR (Interparfums, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +4.5% | +20.6% |
| 5-year return | +80.2% | +82.4% |
| Volatility (ann.) | 32.0% | 14.5% |
| Beta vs S&P 500 | 0.75 | 1.00 |
| Max drawdown (3Y) | -46.4% | -18.8% |
| Market cap | $3.8B | – |
| P/E (trailing) | 22.4 | – |
| Dividend yield | 2.74% | 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 | IPAR | SPY |
|---|---|---|
| 2022 | -7.4% | -18.2% |
| 2023 | +52.0% | +26.2% |
| 2024 | -6.5% | +24.9% |
| 2025 | -33.6% | +17.7% |
| 2026 | +40.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPAR and SPY good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IPAR and SPY?
The IPAR/SPY correlation stands at 0.34 on a 3-year window (1 year: 0.19, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for IPAR?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
A reading of 0.34 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ipar-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ipar-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IPAR correlations · SPY correlations
