ITRG vs SPY: Correlation
Measured on weekly returns over the past three years, Integra Resources Corp. (ITRG) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.25, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITRG and SPY?
Over the past 3 years, ITRG and SPY moved with a correlation of 0.25, which is weak. Lately the two have moved closer together, with the 1-year correlation at 0.51 versus 0.25 over 3 years. Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 232.3 %².
Among the 13 assets we track against ITRG, SPY sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months ITRG outperformed by 18.7 percentage points (+39.3% for ITRG against +20.6% for SPY). One caveat on sizing: ITRG is 4.4 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.
ITRG vs SPY: side by side
| ITRG (Integra Resources Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +39.3% | +20.6% |
| 5-year return | +6.9% | +82.4% |
| Volatility (ann.) | 63.1% | 14.5% |
| Beta vs S&P 500 | 1.11 | 1.00 |
| Max drawdown (3Y) | -55.8% | -18.8% |
| Market cap | $0.6B | – |
| P/E (trailing) | 73.5 | – |
| 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 | ITRG | SPY |
|---|---|---|
| 2022 | -70.6% | -18.2% |
| 2023 | +67.5% | +26.2% |
| 2024 | -17.9% | +24.9% |
| 2025 | +360.9% | +17.7% |
| 2026 | -26.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ITRG and SPY good diversifiers for each other?
Reasonably. At 0.25, ITRG and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ITRG and SPY?
The ITRG/SPY correlation stands at 0.25 on a 3-year window (1 year: 0.51, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for ITRG?
Reasonably. At 0.25, ITRG and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.25 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: ITRG correlations · SPY correlations
