IPDN vs SPY: Correlation
How closely do Professional Diversity Network, Inc. (IPDN) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.08, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPDN and SPY?
Across a 3-year window, the weekly returns of IPDN and SPY correlate at 0.08, near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.13 over 1 year against 0.08 over 3. Stretching to 5 years gives 0.09, with an annualized covariance of 221.9 %².
By 3-year correlation, SPY places #8 of the 13 assets tracked against IPDN. The last year tells two different stories: SPY led by 114.1 percentage points, -93.5% for IPDN against +20.6% for SPY. One caveat on sizing: IPDN is 13.3 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.
IPDN vs SPY: side by side
| IPDN (Professional Diversity Network, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -93.5% | +20.6% |
| 5-year return | -99.5% | +82.4% |
| Volatility (ann.) | 192.4% | 14.5% |
| Beta vs S&P 500 | 1.06 | 1.00 |
| Max drawdown (3Y) | -99.6% | -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 | IPDN | SPY |
|---|---|---|
| 2022 | +5.1% | -18.2% |
| 2023 | -1.5% | +26.2% |
| 2024 | -75.4% | +24.9% |
| 2025 | -77.2% | +17.7% |
| 2026 | -89.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPDN and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.08 means the two rarely move for the same reasons.
FAQ
What is the correlation between IPDN and SPY?
The IPDN/SPY correlation stands at 0.08 on a 3-year window (1 year: 0.13, 5 years: 0.09), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for IPDN?
By historical standards, yes. A correlation of 0.08 means the two rarely move for the same reasons.
What does a correlation of 0.08 mean?
On the −1 to +1 scale, 0.08 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: IPDN correlations · SPY correlations
