ITGR vs SPY: Correlation
Measured on weekly returns over the past three years, Integer Holdings Corporation (ITGR) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.24, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITGR and SPY?
Over the past 3 years, ITGR and SPY moved with a correlation of 0.24, which is weak. The link has loosened recently: the 1-year correlation (0.01) runs below the 3-year figure (0.24). Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 117.9 %².
Within ITGR's tracked universe of 14 assets, SPY comes in at #6 by 3-year correlation. Twelve-month performance is nearly a tie, at +15.9% for ITGR and +20.6% for SPY. Risk is not evenly split, since ITGR carries 2.3 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.
ITGR vs SPY: side by side
| ITGR (Integer Holdings Corporation) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +15.9% | +20.6% |
| 5-year return | +28.7% | +82.4% |
| Volatility (ann.) | 33.7% | 14.5% |
| Beta vs S&P 500 | 0.56 | 1.00 |
| Max drawdown (3Y) | -56.1% | -18.8% |
| Market cap | $4.3B | – |
| P/E (trailing) | 34.2 | – |
| 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 | ITGR | SPY |
|---|---|---|
| 2022 | -20.0% | -18.2% |
| 2023 | +44.7% | +26.2% |
| 2024 | +33.8% | +24.9% |
| 2025 | -40.8% | +17.7% |
| 2026 | +59.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ITGR and SPY good diversifiers for each other?
Reasonably. At 0.24, ITGR and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ITGR and SPY?
Using weekly returns as of 2026-08-27: 0.24 over 3 years, with 0.01 over the last year and 0.38 over 5 years.
Is SPY a good diversifier for ITGR?
Reasonably. At 0.24, ITGR and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.24 mean?
On the −1 to +1 scale, 0.24 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: ITGR correlations · SPY correlations
