ITIC vs SPY: Correlation
How closely do Investors Title Company (ITIC) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.29, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITIC and SPY?
Over the past 3 years, ITIC and SPY moved with a correlation of 0.29, which is weak. The link has loosened recently: the 1-year correlation (0.13) runs below the 3-year figure (0.29). Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 140.9 %².
Among the 16 assets we track against ITIC, SPY ranks #10 by 3-year correlation. The trailing year gives ITIC the advantage: +27.9% versus +20.6%, a 7.3-point spread. Note the risk asymmetry: ITIC runs 2.3 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.
ITIC vs SPY: side by side
| ITIC (Investors Title Company) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +27.9% | +20.6% |
| 5-year return | +107.1% | +82.4% |
| Volatility (ann.) | 33.1% | 14.5% |
| Beta vs S&P 500 | 0.67 | 1.00 |
| Max drawdown (3Y) | -28.9% | -18.8% |
| Market cap | $0.6B | – |
| P/E (trailing) | 14.3 | – |
| Dividend yield | 0.60% | 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 | ITIC | SPY |
|---|---|---|
| 2022 | -22.8% | -18.2% |
| 2023 | +14.3% | +26.2% |
| 2024 | +55.0% | +24.9% |
| 2025 | +9.7% | +17.7% |
| 2026 | +22.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ITIC and SPY good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ITIC and SPY?
As of 2026-08-27, the correlation of weekly returns between ITIC and SPY is 0.29 over 3 years, 0.13 over 1 year and 0.40 over 5 years.
Is SPY a good diversifier for ITIC?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 mean?
A reading of 0.29 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: ITIC correlations · SPY correlations
